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WorksheetsSSEIN1-3 International Econ Review
Total questions: 30
Worksheet time: 26mins
How would someone who wanted to see all trade barriers removed have felt about NAFTA?
They would have opposed it on the grounds that it would cost too many US jobs
They would have supported it because it called for subsidies
They would have opposed it on the grounds that it made tariffs too high
They would have supported it for establishing free trade
Taxes imposes on imports are called
Subsideis
Tariffs
Embargoes
Standards
Which of the following parties would be MOST LIKELY to favor US Tariffs?
Producers of exported US Products
US consumers
US Labor Unions
Foreign Producers of US Imports
The international community has just discovered that the leaders of Country X are executing large numbers of citizens who it accuses of opposing the government. In an effort to put economic pressure on Country X to stop these mass murders, the international community refuses to ship food and military weapons to the country, while refusing to buy Country X's products. As a result, Country X ceases its brutal actions and asks other nations to resume trade relations. Country X has responded to
Tariffs
An embargo
International STandards
International Subsidies
A country might place a limit or __________ on another country to weaken their economy.
Embargo
Tariff
Quota
Standard
What does EU stand for?
Everyone United
European Union
Equal United
European University
What does NAFTA mean?
North American Federation of Team Athletes
North American Federation of Trade
New Americans Feel Threatened by Allies
North American Free Trade Agreement
Which One Of These Is An Argument Against Free Trade
Protecting Infant Industries
Protecting National Security
Protecting Domestic Employment
Protecting The Environment In Developing Countries
What does it mean to protect infant industries?
To make sure that well established corporations get a chance in the market.
To make sure that new industries get a chance to compete in the market both nationally and internationally.
To make sure that the national security of the USA is protected.
To make sure that the environment of the USA is protected from development in perpetuity.
What does it mean to protect national security?
The argument supports the use of trade barriers when a new industry is in the early stages of development.
The argument of maintaining industries critical to the country’s even when the industry cannot efficiently compete at the internationally.
The argument of seeking to protect workers of a country from becoming unemployed due to competition from workers in developing countries.
The argument that restrictions on trade with countries that have lax environmental standards.
What Does It Mean To Protect Domestic Employment?
The argument supports restrictions on trade with countries that have lax environmental standards.
The argument seeking to protect workers of a country from becoming unemployed due to competition from workers in developing countries.
The argument that supports the use of trade barriers when a new industry is in the early stages of development.
The argument for maintaining industries critical to the country’s national security even when the industry cannot efficiently compete
What type of advantage shows who can make the most item?
absolute advantage
comparative advantage
Which country has the absolute advantage in producing airplanes?
The next best alternative.
Opportunity Cost
Trade Surplus
Trade deficit
Comparative advantage
A combination of things that limit the flow of goods, services, and productive resources between countries
Trade barriers
Trade Surplus
Trade deficit
Balance of trade
requirements a good must meet before it can enter the country as an import.
Free Trade
Standard
Subsidy
National Security
An argument that supports the use of trade barriers when a new industry is in the early stages of development.
Free Trade
Infant Industries
National Security
Balance of Trade
An argument that cites the importance of maintaining industries critical to the country even when the industry cannot efficiently compete at the international level.
Domestic Employment
Infant Industries
Free Trade
National Security
The exchange rate is $1 USD = $0.75 CAD. An American tourist in Winnipeg wants to buy a jar of maple syrup for $1.50 CAD. How many US dollars will it cost?
$1.50 USD
$2.00 USD
$3.00 USD
$0.75 USD
Which currency is appreciating?
The Euro
The US Dollar
Neither
Both
