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International Economy

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

International Economy is...

a)

branch of the economy that analyzes commercial transactions between two or more countries

b)

is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them.

c)

is synonym to international economics

d)

All three are correct

2.

International trade studies...

a)

services

b)

goods

c)

goods and services

d)

goods and services in a specific country

3.

international investment

a)

purchasing stocks in the same country you live in

b)

purchasing stocks in another country

c)

purchasing stocks in another country, but without this country's monetary use

d)

purchasing in general

4.

Capital is...

a)

the general body of wage earners

b)

a stock of resources that may be employed in the production of goods and services and the price paid for the use of credit or money, respectively.

c)

wealth in the form of money or other assets owned by a person or organization or available for a purpose such as starting a company or investing:

d)

A place where people live

5.

Technology is...

a)

the set of assets, goods or money used by a company or an individual to generate wealth and earn income by producing other goods and services.

b)

the application of scientific knowledge to the practical aims of human life or, as it is sometimes phrased, to the change and manipulation of the human environment.

c)

the general body of wage earners.

d)

use of a computer program

6.

NAFTA stands for...

a)

North American Free Trade Agreement

b)

North American Free Troll Agreement

c)

North African Free Trade Agreement

d)

North American Free Trade Argument

7.

EU stands for

a)

European Unison

b)

European Undervalue

c)

European Union

d)

European Ubers

8.

Exchange rate refers to...

a)

the price of a country’s service in relation to another country’s money

b)

the price of a country’s money in relation to another country’s service

c)

the value of a country’s money in relation to another country’s money

d)

the price of a country’s money in relation to another country’s money

9.

trade barriers are...

a)

synonym of free trade

b)

agreements that make it difficult for a firm to enter a given market.

c)

obstacles that make it difficult for a firm to enter a given market.

d)

contractual arrangement between states concerning their trade relationships

10.

APEC stands for...

a)

Asia-Pacific Economic Care

b)

Asia-Pacific Economic Cooperation

c)

Asia-Pacific Economic Corporation

d)

Asia-Pacific Economic Culture

11.

Bulk commodity is not...

a)

any homogenous liquid or solid material carried in a vessel without any intermediate form of contaiment

b)

Coal, bauxite, iron ore, pet coke, limestone

c)

any non-liquid, non-gaseous commodity shipped loose or in mass/aggregate

d)

range of packaged products which are transported in vessels

12.

Surplus is...

a)

an excess of production or supply:

b)

an amount of something left over when requirements have been met;

c)

more than what is needed or used; excess:

d)

All three are correct

13.

deficit is...

a)

the amount by which something, especially a sum of money, is too large.

b)

more than what is needed or used; excess:

c)

the amount by which something, especially a sum of money, is too small.

14.

Import is not...

a)

bring (goods or services) into a country from abroad for sale

b)

a commodity, article, or service brought in from abroad for sale

c)

to bring from a foreign or external source

d)

to carry or send (something, such as a commodity) to some other place (such as another country)

15.

Export is...

a)

tax levied upon goods as they cross national boundaries

b)

receive (goods or services) from another country for sale

c)

send (goods or services) to another country for sale

d)

a product or service bought abroad

16.

WTO stands for...

a)

World Trade Order

b)

World Trading Organization

c)

World Traditional Organization

d)

World Trade Organization

17.

Profitability is...

a)

yielding advantageous returns or results

b)

fruitlessness

c)

To obtain losses from a good or service sold

d)

Be pro something related to gaining

18.

EURO refers to...

a)

Exchange rate

b)

A person from Europe

c)

the single European currency

d)

European

19.

Agreement is...

a)

harmony or accordance in opinion or feeling

b)

a negotiated and typically illegally binding arrangement between parties as to a course of action

c)

bring (goods or services) into a country from abroad for sale

d)

the quality or state of being unprofitable

20.

Which of these words is misspelled?

a)

Economy

b)

economicals

c)

economize

d)

economical