LOI, WTO and Forex Quizz

What is the main role of the WTO?

• To sell goods between countries

• To protect local farmers

• To make rules for fair trade between countries

• To build factories around the world

Why do some people reject the WTO?

• It stops international trade completely

• It helps small local businesses

• It is too focused on helping big companies and rich countries

• It bans all food imports

What does WTO promote in global trade?

• Trade wars between countries

• Free and open trade with fewer unnecessary barriers

• High import taxes

• Local-only business rules

The WTO helps solve trade disputes between countries.

• True

• False

What does 'Exchange Rate' mean?

• The process of saving money in banks

• The price of gold in a country

• The value of one currency compared to another

• The cost of traveling abroad

What is an example of currency conversion?

• Paying tax to the government

• Exchanging rupiah for yen while shopping in Japan

• Buying groceries in a local market

• Saving money in your bank account

Foreign Exchange Market is where you exchange goods and services.

• True

• False

A high interest rate in a country can attract foreign investors.

• True

• False

What is the main goal of regional economic integration?

• To increase taxes on imports

• To make trade more difficult

• To make trade easier and freer among member countries

• To eliminate political cooperation

In a Free Trade Area, countries...

• Have a single currency

• Share common trade rules with non-members

• Eliminate import tariffs among themselves

• Fully integrate their political systems