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Global Trade

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

What is the name of the arrangement that formed the basis of the modern international trade system after World War II?

a)

World Bank

b)

World Trade Organization (WTO)

c)

General Agreement on Tariffs and Trade (GATT)

d)

International Trade Organization (ITO)

2.

Which of the following is not among the responsibilities of the World Trade Organization, the main institution dealing with international trade?

a)

Facilitating trade agreements among member countries

b)

Monitoring countries’ trade policies to ensure compliance with agreements

c)

Specifying the amount of goods and services that countries can trade each year

d)

Settling disputes related to trade policy

3.

Reports indicate that the United States has won approximately what proportion of the adjudicated complaints it has filed with the World Trade Organization in recent decades? This question is required.

a)

10%

b)

33%

c)

50%

d)

90%

4.

What is the name of the most recent series of trade negotiations conducted by the United States and the other members of the World Trade Organization (WTO)?

a)

Uruguay Round

b)

Geneva Assembly

c)

Doha Round

d)

International Trade Forum

5.

In the context of its overall trade deficit, the United States had approximately what trade balance in services in 2017?

a)

Surplus of $244 billion

b)

Surplus of $24 billion

c)

Deficit of $24 billion

d)

Deficit of $244 billion

6.

Which country provided the largest share of U.S. goods and services imports in 2016?

a)

Canada

b)

Mexico

c)

China

d)

United Kingdom

7.

Which country bought the largest amount of U.S. goods and services exports in 2016?

a)

Mexico

b)

China

c)

United Kingdom

d)

Canada

8.

Considering only goods, China was the third-largest buyer of U.S. exports in 2017. In 2000, it ranked _______.

a)

19th

b)

11th

c)

6th

d)

3rd

9.

Which country is the world’s leading goods exporter?

a)

Japan

b)

China

c)

Germany

d)

United States

10.

Which country is the world’s leading goods importer?

a)

India

b)

United Kingdom

c)

China

d)

United States