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WorksheetsIB International Trade Game
Total questions: 10
Worksheet time: 4mins
Name
Class
Date
1.
Which of the following is not a benefit to free trade?
a)
increases efficiency
b)
Uses comparative advantage
c)
uses of absolute advantages
d)
specialization
2.
Which of the following is NOT a legitimate argument for protectionism?
a)
Infant Industry Argument
b)
Protect Domestic Jobs
c)
National Security
d)
America
3.
What is a major function of the WTO?
a)
To promote free trade
b)
To lend money to developing countries
c)
To lend money to any country that needs it
d)
To help promote good economic policies for developing countries
4.
What is a benefit of a tariff?
a)
Decreased prices for consumers
b)
Increase in competition for producers
c)
Government revenue
d)
Dead-Weight Loss
5.
What type of exchange rate allows market forces to determine its exchange rate?
a)
Managed Exchange Rates
b)
Fixed Exchange Rates
c)
Adam Smith Exchange Rates
d)
Floating Exchange Rates
6.
In the exchange rate between the Euro and the Peso, if the supply of Euros increase, what happens in the Market for Pesos?
a)
Supply increases
b)
Demand decreases
c)
The Peso appreciates
d)
Supply decreases
7.
All of the following would increase demand for a currency EXCEPT...
a)
decrease in exports
b)
rising domestic interest rates
c)
deflation
d)
increase in supply in the currency's exchange rate partner
8.
A current account deficit most likely means that
a)
There is a financial account surplus
b)
There is an official reserves surplus
c)
Imports exceed exports
d)
There is no impact on the exchange rate
9.
What is a trading bloc?
a)
A group of countries that is created to reduce tariffs and other barriers
b)
A trade agreement made between 2 countries
c)
A trade agreement made between more than 2 countries
d)
A group of countries that begin to use the same currency to aid in trading
10.
Mr. Anello's daughter's name is...
a)
Aubrey
b)
Madison
c)
Laura
d)
Olivia
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