
CMS: Review for Economics Part II
Authored by Nicole Oblitey
Social Studies
6th Grade
Used 4+ times

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12 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which three are examples of trade barriers?
Tariff
Quota
Embargo
Exchange rate
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A country notices its GDP steadily increasing over several years. What does this MOST likely shows?
The economy is unstable
The economy has no change
The economy is growing
The economy is shrinking
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are exchange rates important in world trade?
A. They measure the distance between trading nations
B. They let countries compare the value of different currencies
C. They set rules for free trade agreements
D. They decide the amount of imports allowed
They let countries compare the value of different currencies
They measure the distance between trading nations
They set rules for free trade agreements
They decide the numberof imports allowed
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a government places a ban (stop) on trading oil with another country, what is this called?
A. Tariff
B. Embargo
C. Quota
D. Surplus
Tariff
Quota
Embargo
Surplus
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Trinidad's high literacy rate contributes to its economy by…
Increasing unemployment levels
Providing a skilled workforce that raises the standard of living
Limiting the number of immigrants allowed into the country
Lowering the wages of most workers
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following BEST defines a tariff?
A tax placed on imports from other countries
A ban on selling goods to other nations
A rule that allows free trade across borders
A type of currency used between countries
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does specialization help nations improve their economies?
It allows countries to trade for goods they do not produce
It forces everyone to work longer hours
It decreases the amount of training workers need
It makes resources evenly spread across nations
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