International Trade Quiz

What is a trade surplus?

• When a country imports more than it exports

• When a country exports more than it imports

• When imports and exports are equal

• When a country has no international trade

What does NAFTA stand for?

• National Association for Trade Agreements

• North American Free Trade Agreement

• National American Foreign Trade Act

• North Atlantic Free Trade Alliance

Which term describes goods transported in large quantities, like grain or oil?

• Retail goods

• Manufactured goods

• Bulk commodities

• Consumer products

What is a trade deficit?

• When exports exceed imports

• When imports exceed exports

• When trade is perfectly balanced

• When there is no international trade

What is "996" in Chinese work culture?

• A lucky number combination

• Working 9am-9pm, 6 days a week

• The minimum wage in yuan

• A trade regulation code

What happens during currency appreciation?

• The currency loses value

• The currency gains value

• The currency remains stable

• The currency is eliminated

What are the two sub-accounts that make up a country's balance of payments?

• A) The trade account and the investment account.

• B) The current account and the financial account.

• C) The import account and the export account.

• D) The surplus account and the deficit account.

What is the WTO?

• World Tourism Organization

• World Trade Organization

• World Transport Organization

• World Treasury Organization

What does BRICS stand for?

• Britain, Russia, India, China, Spain

• Brazil, Russia, India, China, South Africa

• Brazil, Romania, Indonesia, Canada, Sweden

• Britain, Russia, Indonesia, China, Singapore

What is protectionism?

• Economic policies protecting domestic industries

• International security measures

• Environmental protection laws

• Consumer protection regulations