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Test your basic knowledge |
Foreign Trade Global
Start Test
Study First
Subjects
:
business-skills
,
industries
Instructions:
Answer 50 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. Carbon _______ are tradable ___________ that give the right to emit 1 ___ of carbon into the ____________
foreign exchange
ASEAN
NAFTA
credits - certificates - ton - atmosphere
2. Group of countries that have agreed to reduce trade barriers among themselves - but lack a common tariff barrier for nonmembers
free trade area
traders - arguments - consumer
World Trade Organization
ASEAN
3. Legislation is passed on a continuing basis as it continues to ____ & demand immediate _________
taxes - permits - incentive - pollute
nation - nations
GATT - Trade - trade - disputes
grow - attention
4. State in which a society produces barely enough to support itself
subsistence
international
traders - arguments - consumer
protectionists
5. _________ is an expanding problem that ___________ seek to find answer to
free traders
exports
population - governments
subsistence
6. Some smaller ______ use a fixed ____ that ties their value to that of other major _________
free traders
nations - rate - currencies
hydroelectric - biomass - solar - wind - gasohol
protectionists
7. The primary concern w/ these nations is the ____________ needs - not just the _________
technology
humanitarian - political
200 - Thomas Malthus - nations - birth - famine - standard - living
exchange - currencies
8. ___________ argue _________ can't be controlled until economic __________ to pollute are removed
NAFTA - U.S. - Canada - Mexico
dumping
economists - pollution - incentives
imports
9. International agency that administers trade agreements - settles trade disputes b/w governments - organizes trade negotiation - & provides technical assistance & training for developing countries
nations - produce - trade - output
council - thinking - decision - analysis
endangered - boom - water - land
World Trade Organization
10. System that relies on supply & demand to determine the value of one currency in terms of another
trade - advantage
grow - attention
gasohol
flexible exchange rate
11. Situation occurring when the value of a nation's exports exceeds the value of its imports
tariff
trade surplus
biomass
GATT - Trade - trade - disputes
12. Barriers have been used to _______ the flow of products to _______ across the ______
hydroelectric - biomass - solar - wind - gasohol
technology
restrict - markets - globe
embargo
13. [FIB] barriers to international trade:
tariffs - quotas - licensing - health certification - voluntary quotas
national defense - infant industries - protecting domestic jobs- keeping money at home
subsistence
taxes - permits - incentive - pollute
14. [ESSAY] Major challenges of developing nations: high _____ rates - increasing ____ expectancies - shortage of __________ resources - limited ________ & technology - ________ - large scale __________ - aftermath of ___ - external ____
200 - Thomas Malthus - nations - birth - famine - standard - living
problems - scale
birth - life - national - education - religion - corruption - war - debt
capitalism - goals
15. Agreement signed in 1993 to reduce tariffs b/w the U.S. - Canada - & Mexico
NAFTA
tariffs - Depression - world - free
trade surplus
free traders
16. Free _______ believe that all of the protectionists _________ are flawed - due to the restriction that it places on the ________
traders - arguments - consumer
credits - certificates - ton - atmosphere
taxes - permits - incentive - pollute
nations - rate - currencies
17. If people & _______ specialize in the things they _______ relatively more efficiently - & if they engage in _____ to secure the things they do no produce then total world ______ will increase
nations - produce - trade - output
modified free enterprise economy
free trade area
nations - rate - currencies
18. High _______ were one of the primary causes associated w/ the Great __________ - yet the _____ has moved toward ____ trade ever since the
tariffs - Depression - world - free
modified free enterprise economy
council - thinking - decision - analysis
free trade area
19. More than ___ years ago - it was predicted by _______ _______ the problems that would be associated w/ developing _______ : high ______ rates - _____ - threat of a subsistence ________ of ______
foreign exchange
200 - Thomas Malthus - nations - birth - famine - standard - living
tariffs - Depression - world - free
trade deficit
20. Malthus didn't take into account the advancement of _________ that would effect all of the factors
technology
national defense - infant industries - protecting domestic jobs- keeping money at home
problems - scale
embargo - 1970 - energy
21. Prohibition on the export or import of a product
tariffs - Depression - world - free
nations - produce - trade - output
NAFTA - U.S. - Canada - Mexico
embargo
22. [FIB] Protectionists support trade barriers on the basis of:
exports
hydroelectric - biomass - solar - wind - gasohol
national defense - infant industries - protecting domestic jobs- keeping money at home
free traders
23. Selling products outside of the country for less than it costs to produce them at home
grow - attention
credits - certificates - ton - atmosphere
dumping
protectionists
24. Free enterprise system w/ some government involvement
trade - advantage
modified free enterprise economy
trade deficit
endangered - boom - water - land
25. True flexibility ________ enable the modern modified ____ enterprise economy to better deal w/ the unforeseen events of the _______
markets - free - future
economics - society - capitalism - system
subsistence
endangered - boom - water - land
26. The ____ was established in 1947 & evolved into the World _____ Organization which now tries to open nations up to _____ & settle ________
flexible exchange rate
GATT - Trade - trade - disputes
advantage - good
exchange - international
27. Today there are 1.2 _______ people who make less than $_ a day
biomass
exports
World Trade Organization
billion - 1
28. Programs including pollution _____ & pollution _______ are designed to give firms the ________ not to ________
free traders
foreign exchange
taxes - permits - incentive - pollute
credits - certificates - ton - atmosphere
29. The U.S. is extensively involved in _____________ trade
international
trade deficit
exports
taxes - permits - incentive - pollute
30. Person who would protect domestic producers w/ tariffs - quotas - & other trade barriers
dumping
international
NAFTA
protectionists
31. Individual who favors fewer or even no trade restrictions
national defense - infant industries - protecting domestic jobs- keeping money at home
capitalism - goals
free traders
embargo - 1970 - energy
32. The national _______ for economic ________ has recommended a 5 point approach to _______ making & the final step is cost benefit ________
markets - free - future
credits - certificates - ton - atmosphere
NAFTA - U.S. - Canada - Mexico
council - thinking - decision - analysis
33. Foreign currencies used by countries to conduct international trade
taxes - permits - incentive - pollute
embargo
restrict - markets - globe
foreign exchange
34. Most countries uses a system of ________ or ________ exchange rates - meaning that ______ & ______ determine the nation's ________ value
credits - certificates - ton - atmosphere
floating - flexible - supply - demand - currency
trade surplus
dumping
35. [FIB] U.S. sources of energy: ______________ power - _______ - ______ power - ____ power - _______
trade - advantage
hydroelectric - biomass - solar - wind - gasohol
birth - life - national - education - religion - corruption - war - debt
World Trade Organization
36. ______ was created to open up free trade b/w the ____ - ______ - & ______
dumping
NAFTA - U.S. - Canada - Mexico
tariffs - quotas - licensing - health certification - voluntary quotas
problems - scale
37. System under which the value of currencies were fixed in relation to one another
protectionists
free traders
traders - arguments - consumer
fixed exchange rate
38. Group of 10 Southeast Asian nations working to promote regional cooperation - economic growth - & trade
credits - certificates - ton - atmosphere
national defense - infant industries - protecting domestic jobs- keeping money at home
ASEAN
technology
39. Government confiscation of private or foreign owned goods w/o compensation
most favored nation clause
nation - nations
expropriation
protectionists
40. Deprived nations face the same ________ large nations encounter - just on a greater _____
problems - scale
free traders
trade - advantage
free trade area
41. Foreign ________ is the lifeblood of ____________ trade
exchange - international
grow - attention
council - thinking - decision - analysis
technology
42. [FIB] Most widely used non renewable _________ of today: ___ - _______ gas - ____
trade - advantage
resources: - oil - natural - coal
humanitarian - political
exchange - currencies
43. The basis for _____ today is called comparative _________
trade - advantage
trade deficit
dumping
economics - society - capitalism - system
44. It was the oil _______ of the early ____s that pushed the U.S. to seek out new sources of ______
population - governments
expropriation
embargo - 1970 - energy
tariff
45. Other resources that are becoming more __________ due to the population ____ are _____ & ____
problems - scale
humanitarian - political
exchange - international
endangered - boom - water - land
46. Tax placed on an imported product
protectionists
tariff
ASEAN
humanitarian - political
47. The ___ & the World ____ are the 2 major international ________ that help w/ ___________
humanitarian - political
trade deficit
technology
IMF - Bank - agencies - development
48. Modern _________ is suited to meet the economic _____ of the people
grow - attention
subsistence
capitalism - goals
exchange - international
49. Balance of payments outcome when spending on imports exceeds revenues received from exports
restrict - markets - globe
free traders
nations - produce - trade - output
trade deficit
50. The goods & services that a nation produces & then sells to other nations
exports
European Union
imports
trade surplus