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Test your basic knowledge |
Foreign Trade And Exchange Vocab
Start Test
Study First
Subjects
:
business-skills
,
industries
Instructions:
Answer 25 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A difference in the supply and demand will automatically be fixed in the market
short on currency
hard currency
supply and demand (supply)
floating exchange rate
2. Established Januaray 1 - 1995 - only global international organization that deals with rules of trade between nations
floating exchange rate
short on currency
World Trade Organization
supply and demand (supply)
3. Began 1961 has 15 countries - euro in all 15 countries exchange and services and the right to work in other countries
hard currency
European Union
supply and demand (supply)
Bank for International Settlements
4. Founded in 1944 helps poorest people in the poorest countries - provides resources - shares knowledge - builds capacity in developing countries - tries to organize people and resources of country so they can be involved in the global market place
World Bank
short on currency
supply and demand (demand)
supply and demand (supply)
5. A government tax on imports or exports - also called duty
European Union
call
currency
tariff
6. Agreement where countries agree to trade together not illegal documents
floating exchange rate
supply and demand (supply)
Trade Bloc
Interdependence
7. Sluggish economic growth - rising unemployment
floating exchange rate
short on currency
when there is not enough $
long on currency
8. When the headquarters/parent of the company is effectively owned in 2 or more countries
supply and demand (demand)
a company becomes multinational when...
exchange rate
short on currency
9. Rate the government sets and keeps as the official exchange rate
World Trade Organization
fixed exchange rate
long on currency
World Bank
10. Buy
floating exchange rate
Interdependence
soft currency
call
11. Relations between 1 economy and others around the world
Interdependence
when there is too much $
call
soft currency
12. In Switzerland - bank for central banks provides broad range of financial services - deals with value of currencies and Who is trading with whom
short on currency
Bank for International Settlements
floating exchange rate
tariff
13. Founded in 1944 - international organization of 183 countries - promotes money cooperation
World Trade Organization
when there is not enough $
International Monetary Fund
Group of 7 (G7-G8)
14. Refers to how much quantity of product/service is desired by the buyer
hard currency
Interdependence
supply and demand (supply)
European Union
15. Sell
Group of 7 (G7-G8)
put
Bank for International Settlements
call
16. A generally excepted form of money
when there is not enough $
a company becomes multinational when...
put
currency
17. The rate at which one currency can be exchanged for another
supply and demand (demand)
World Bank
exchange rate
a company becomes multinational when...
18. Developed countries money (america - england - japan)
supply and demand (supply)
long on currency
hard currency
Trade Bloc
19. Inflation - value of money declines - prices rise
when there is too much $
put
European Union
Group of 7 (G7-G8)
20. Represents how much the market can offer
World Bank
put
supply and demand (demand)
soft currency
21. Largest market in the world - 24 hour buying and selling currencies takes place - no central headquarters
World Bank
FX Market
floating exchange rate
Group of 7 (G7-G8)
22. Trader sells a lot of a currency
World Bank
Interdependence
short on currency
hard currency
23. Trader purchases a lot of currency
a company becomes multinational when...
long on currency
soft currency
exchange rate
24. Developing countries money (mexico - madagascar - Egypt)
fixed exchange rate
soft currency
short on currency
put
25. Started in 1975 - group of developed countries (US - Germany - France - Great Britan - Italy) Russia wants to join which would make it G8
World Trade Organization
Group of 7 (G7-G8)
when there is not enough $
supply and demand (demand)