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Foreign Trade Global

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. Programs including pollution _____ & pollution _______ are designed to give firms the ________ not to ________






2. Other resources that are becoming more __________ due to the population ____ are _____ & ____






3. Mixture of 90% unleaded gasoline & 10% grain alcohol






4. The ___ & the World ____ are the 2 major international ________ that help w/ ___________






5. Barriers have been used to _______ the flow of products to _______ across the ______






6. Foreign ________ is the lifeblood of ____________ trade






7. Today there are 1.2 _______ people who make less than $_ a day






8. The national _______ for economic ________ has recommended a 5 point approach to _______ making & the final step is cost benefit ________






9. A fundamental knowledge of ________ is key to understand our modern _______ b/c __________ has become the dominant economic ______ today






10. Successor of the European community established in 1993 by the Maastricht Treaty






11. The basis for _____ today is called comparative _________






12. Malthus didn't take into account the advancement of _________ that would effect all of the factors






13. [ESSAY] Major challenges of developing nations: high _____ rates - increasing ____ expectancies - shortage of __________ resources - limited ________ & technology - ________ - large scale __________ - aftermath of ___ - external ____






14. Carbon _______ are tradable ___________ that give the right to emit 1 ___ of carbon into the ____________






15. Most favored ______ clause is important b/c it gives them the same tariff reductions the U.S. provides other _______






16. Tax placed on an imported product






17. [FIB] Most widely used non renewable _________ of today: ___ - _______ gas - ____






18. ______ was created to open up free trade b/w the ____ - ______ - & ______






19. Balance of payments outcome when spending on imports exceeds revenues received from exports






20. The primary concern w/ these nations is the ____________ needs - not just the _________






21. State in which a society produces barely enough to support itself






22. Selling products outside of the country for less than it costs to produce them at home






23. Government confiscation of private or foreign owned goods w/o compensation






24. The goods & services that a nation buys from other nations






25. Absolute _________ means that a country can produce more of a ____ than another country can






26. Resource created from living & nonliving materials






27. [FIB] Protectionists support trade barriers on the basis of:






28. Most countries uses a system of ________ or ________ exchange rates - meaning that ______ & ______ determine the nation's ________ value






29. Trade law allowing a third country to enjoy the same tariff reductions the U.S. negotiates w/ another country






30. Situation occurring when the value of a nation's exports exceeds the value of its imports






31. Individual who favors fewer or even no trade restrictions






32. International agency that administers trade agreements - settles trade disputes b/w governments - organizes trade negotiation - & provides technical assistance & training for developing countries






33. Agreement signed in 1993 to reduce tariffs b/w the U.S. - Canada - & Mexico






34. Group of 10 Southeast Asian nations working to promote regional cooperation - economic growth - & trade






35. Prohibition on the export or import of a product






36. Modern _________ is suited to meet the economic _____ of the people






37. Deprived nations face the same ________ large nations encounter - just on a greater _____






38. The goods & services that a nation produces & then sells to other nations






39. Legislation is passed on a continuing basis as it continues to ____ & demand immediate _________






40. Free _______ believe that all of the protectionists _________ are flawed - due to the restriction that it places on the ________






41. System under which the value of currencies were fixed in relation to one another






42. True flexibility ________ enable the modern modified ____ enterprise economy to better deal w/ the unforeseen events of the _______






43. Some smaller ______ use a fixed ____ that ties their value to that of other major _________






44. [FIB] barriers to international trade:






45. The value of foreign exchange is determined in foreign ________ markets where __________ are bought & sold






46. [FIB] U.S. sources of energy: ______________ power - _______ - ______ power - ____ power - _______






47. High _______ were one of the primary causes associated w/ the Great __________ - yet the _____ has moved toward ____ trade ever since the






48. The ____ was established in 1947 & evolved into the World _____ Organization which now tries to open nations up to _____ & settle ________






49. Group of countries that have agreed to reduce trade barriers among themselves - but lack a common tariff barrier for nonmembers






50. System that relies on supply & demand to determine the value of one currency in terms of another







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