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WorksheetsWorld Trade
Total questions: 11
Worksheet time: 6mins
Name
Class
Date
1.
Each nation has its on set of
a)
Natural laws
b)
Natural resources
c)
business plan
d)
company name
2.
World
a)
Center
b)
Trade
c)
Creation
d)
Tradition
3.
Revenue Tariffs
a)
to decrease government revenue
b)
to raise government revenue while restricting imports
c)
to raise government revenue without restricting imports
d)
a tariff with revenue
4.
Quotas
a)
restricted the number of units of a good brought into the country
b)
doesn't mess with the country's imports
c)
Restricted the number of non-ameican's brought into the country
5.
The difference between the value of a nation's exports and imports
a)
Revenue
b)
Restrictions
c)
Nation's currency
d)
Balance of trade
6.
The only global international organization dealing with rules of trade between nations
a)
World Trade Center (wtc)
b)
World Trade (wto)
c)
Global Trade
d)
General agreement (gatt)
7.
Which occurred first?
a)
GATT
b)
WTO
8.
Benefits of world trade include all except
a)
Each nation has it's own unique set of natural laws
b)
differs in factors of production
c)
American workers are employed by companies that export products overseas
d)
Easier to accept other countries
9.
The value of exports is greater than the imports
a)
True
b)
False
10.
If a nation's currency becomes strong then the number of exports will incline
a)
True
b)
False
11.
Which is the correct abbreviation of "General Agreement on Tariffs and Trade"
a)
GATTT
b)
GAOTAT
c)
GTT
d)
GATT
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