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