WorksheetsWorld Trade
Total questions: 20
Worksheet time: 10mins
Global trade provides consumers:
Poor quality goods
Incredible variety of goods
High priced items from far away
Cheap oil and petroleum products from Bolivia
Exports are:
The goods and services that a nation produces and then sells to other nations
Opal and emeralds on the precious stones market for domestic consumptions in India
Tin produced by and used in domestic construction in
Germany and the UK
Ford Motor Corporation's labor agreement with the United Auto Workers of America
A country's ability to produce more of a given product than can another country is called:
Imperfect trade
The Euro exchange market
Yen dominance
Absolute advantage
The Basis for Trade refers to:
Absolute Advantage and Comparative Advantage
Nationalism and Domestic Pride
The Foreign Exchange and Stock Market
Alpha Opportunity and Beta Analysis
Which is an example of a gain from trade?
Predictable gain
Slow production
Increased political stability
Russian dominance
Comparative Advantage can best be defined as:
A country's ability to produce a given product more efficiently than another country
Inflationary costs for domestic goods
Compromise of the Factors of Production
The Business Cycle as demonstrated by stock market gains
A tariff is:
A company's profit
An investment option
A tax placed on an imported product
A limit on the volume of goods imported
An embargo is a government order that:
Calls the military to action
A cultural factor in trade
Prohibits the movements of goods to a country
Restricts First Amendment Rights
An argument for trade barriers is:
Aiding National Defense
Selecting a Command Economy
Revising domestic trade policy
Scarcity
Free Traders favor:
Steady pricing of consumer goods
Fewer or no trade restrictions
Nationalism above all else
Strict quotas on imports
Most favored nation clauses:
Are laws allowing a third country to enjoy the same tariff reductions that the US negotiates with another country
Provide student loans and grants for foreign students studying in the US
Favor strict tariffs and quotas on foreign nations
Are laws providing for free trade with the USSR
The Infant Industries
Argument:
Advocates foreign adoptions
Is an argument that infant vaccinations are provided world-wide
Is an argument to protect the FDIC
Is an argument that new/emerging industries should be protected from foreign competition
An example of National Pride protectionism is:
Rio Grande Valley citrus production
French policies that protect its wine industry
Nike's production of athletic shoes in Viet Nam
Shipment of linens from Indonesia
"NAFTA", a trade agreement between Canada, Mexico, and the US, stands for:
North American Free Trade Agreement
Northern Alliance of Free Trade Analysts
North-American-France Triple Alliance
Nottingham Agreement For Trade Accompaniment
The foreign exchange rate is:
The rate of trade between countries
The exchange of foreign agriculture products between countries
The price of one country's currency in terms of another currency
The rate of speed and efficiency in which goods are exchanged between countries
Imports are:
The goods and services that a nation buys from other nations
The cumulative value of petroleum products from the United Arab Emirates
The sum of Argentinian beef allowed into North America
Defective empirical numbers shared under NAFTA
Quotas act to:
Increase goods trades between Japan and the United States
Limit the amount of goods allowed into a country
Limit Rio Grande grapefruit production
Support the purpose of GATT
Foreign exchange are:
Foreign currencies used by countries to conduct international trade
Canadian bearer bonds used to support Quebec shipping
NAFTA induced trade limits
Australian students studying in the US
Which are examples of trade barriers:
Winter clothing produced in Singapore
Free trade and GATT
NAFTA and Most favored nations policies
Inspections and Licenses
Which of the following are examples of types of trade tariffs?
Protective tariffs and Revenue tariffs
GATT tariffs and NAFTA tariffs
Embargos and Quotas
Absolute advantage measures and Exports
