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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. 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
European Union
exports
foreign exchange
2. Programs including pollution _____ & pollution _______ are designed to give firms the ________ not to ________
embargo
taxes - permits - incentive - pollute
foreign exchange
birth - life - national - education - religion - corruption - war - debt
3. It was the oil _______ of the early ____s that pushed the U.S. to seek out new sources of ______
exchange - international
protectionists
advantage - good
embargo - 1970 - energy
4. Free _______ believe that all of the protectionists _________ are flawed - due to the restriction that it places on the ________
floating - flexible - supply - demand - currency
credits - certificates - ton - atmosphere
tariff
traders - arguments - consumer
5. Government confiscation of private or foreign owned goods w/o compensation
foreign exchange
exchange - international
expropriation
dumping
6. Today there are 1.2 _______ people who make less than $_ a day
birth - life - national - education - religion - corruption - war - debt
billion - 1
population - governments
World Trade Organization
7. Mixture of 90% unleaded gasoline & 10% grain alcohol
hydroelectric - biomass - solar - wind - gasohol
gasohol
markets - free - future
resources: - oil - natural - coal
8. Individual who favors fewer or even no trade restrictions
taxes - permits - incentive - pollute
nations - produce - trade - output
humanitarian - political
free traders
9. Modern _________ is suited to meet the economic _____ of the people
problems - scale
tariffs - quotas - licensing - health certification - voluntary quotas
capitalism - goals
exchange - currencies
10. Trade law allowing a third country to enjoy the same tariff reductions the U.S. negotiates w/ another country
dumping
most favored nation clause
international
population - governments
11. International agency that administers trade agreements - settles trade disputes b/w governments - organizes trade negotiation - & provides technical assistance & training for developing countries
World Trade Organization
taxes - permits - incentive - pollute
international
council - thinking - decision - analysis
12. Free enterprise system w/ some government involvement
exchange - international
subsistence
modified free enterprise economy
birth - life - national - education - religion - corruption - war - debt
13. The ___ & the World ____ are the 2 major international ________ that help w/ ___________
NAFTA
exchange - international
World Trade Organization
IMF - Bank - agencies - development
14. ___________ argue _________ can't be controlled until economic __________ to pollute are removed
economists - pollution - incentives
gasohol
nations - produce - trade - output
markets - free - future
15. Agreement signed in 1993 to reduce tariffs b/w the U.S. - Canada - & Mexico
World Trade Organization
NAFTA
embargo
council - thinking - decision - analysis
16. Carbon _______ are tradable ___________ that give the right to emit 1 ___ of carbon into the ____________
exchange - currencies
technology
economics - society - capitalism - system
credits - certificates - ton - atmosphere
17. [FIB] U.S. sources of energy: ______________ power - _______ - ______ power - ____ power - _______
economists - pollution - incentives
population - governments
most favored nation clause
hydroelectric - biomass - solar - wind - gasohol
18. Malthus didn't take into account the advancement of _________ that would effect all of the factors
GATT - Trade - trade - disputes
technology
trade deficit
European Union
19. Barriers have been used to _______ the flow of products to _______ across the ______
economists - pollution - incentives
embargo
restrict - markets - globe
World Trade Organization
20. The ____ was established in 1947 & evolved into the World _____ Organization which now tries to open nations up to _____ & settle ________
dumping
taxes - permits - incentive - pollute
GATT - Trade - trade - disputes
free trade area
21. Group of 10 Southeast Asian nations working to promote regional cooperation - economic growth - & trade
embargo
exchange - international
ASEAN
restrict - markets - globe
22. Tax placed on an imported product
tariff
billion - 1
IMF - Bank - agencies - development
credits - certificates - ton - atmosphere
23. Legislation is passed on a continuing basis as it continues to ____ & demand immediate _________
grow - attention
credits - certificates - ton - atmosphere
trade - advantage
European Union
24. High _______ were one of the primary causes associated w/ the Great __________ - yet the _____ has moved toward ____ trade ever since the
international
expropriation
tariffs - Depression - world - free
NAFTA
25. The value of foreign exchange is determined in foreign ________ markets where __________ are bought & sold
exchange - currencies
GATT - Trade - trade - disputes
NAFTA
endangered - boom - water - land
26. True flexibility ________ enable the modern modified ____ enterprise economy to better deal w/ the unforeseen events of the _______
markets - free - future
billion - 1
tariffs - quotas - licensing - health certification - voluntary quotas
protectionists
27. Other resources that are becoming more __________ due to the population ____ are _____ & ____
free trade area
tariff
exchange - international
endangered - boom - water - land
28. Situation occurring when the value of a nation's exports exceeds the value of its imports
endangered - boom - water - land
most favored nation clause
trade surplus
modified free enterprise economy
29. The national _______ for economic ________ has recommended a 5 point approach to _______ making & the final step is cost benefit ________
nations - produce - trade - output
council - thinking - decision - analysis
capitalism - goals
foreign exchange
30. Prohibition on the export or import of a product
nations - produce - trade - output
embargo
European Union
expropriation
31. Group of countries that have agreed to reduce trade barriers among themselves - but lack a common tariff barrier for nonmembers
free trade area
embargo - 1970 - energy
resources: - oil - natural - coal
GATT - Trade - trade - disputes
32. The goods & services that a nation produces & then sells to other nations
GATT - Trade - trade - disputes
most favored nation clause
ASEAN
exports
33. _________ is an expanding problem that ___________ seek to find answer to
most favored nation clause
population - governments
trade - advantage
grow - attention
34. [FIB] Most widely used non renewable _________ of today: ___ - _______ gas - ____
traders - arguments - consumer
taxes - permits - incentive - pollute
resources: - oil - natural - coal
endangered - boom - water - land
35. Successor of the European community established in 1993 by the Maastricht Treaty
most favored nation clause
resources: - oil - natural - coal
European Union
free trade area
36. [FIB] Protectionists support trade barriers on the basis of:
tariff
birth - life - national - education - religion - corruption - war - debt
national defense - infant industries - protecting domestic jobs- keeping money at home
capitalism - goals
37. The goods & services that a nation buys from other nations
nation - nations
free traders
exports
imports
38. Most countries uses a system of ________ or ________ exchange rates - meaning that ______ & ______ determine the nation's ________ value
fixed exchange rate
billion - 1
floating - flexible - supply - demand - currency
protectionists
39. The basis for _____ today is called comparative _________
advantage - good
tariffs - Depression - world - free
trade - advantage
capitalism - goals
40. State in which a society produces barely enough to support itself
subsistence
exchange - international
gasohol
IMF - Bank - agencies - development
41. [FIB] barriers to international trade:
biomass
exchange - international
tariffs - quotas - licensing - health certification - voluntary quotas
dumping
42. [ESSAY] Major challenges of developing nations: high _____ rates - increasing ____ expectancies - shortage of __________ resources - limited ________ & technology - ________ - large scale __________ - aftermath of ___ - external ____
trade deficit
protectionists
birth - life - national - education - religion - corruption - war - debt
international
43. 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
population - governments
capitalism - goals
nations - produce - trade - output
national defense - infant industries - protecting domestic jobs- keeping money at home
44. Some smaller ______ use a fixed ____ that ties their value to that of other major _________
gasohol
nations - rate - currencies
exchange - currencies
humanitarian - political
45. A fundamental knowledge of ________ is key to understand our modern _______ b/c __________ has become the dominant economic ______ today
trade - advantage
economics - society - capitalism - system
population - governments
expropriation
46. Foreign currencies used by countries to conduct international trade
European Union
foreign exchange
GATT - Trade - trade - disputes
taxes - permits - incentive - pollute
47. The primary concern w/ these nations is the ____________ needs - not just the _________
dumping
humanitarian - political
200 - Thomas Malthus - nations - birth - famine - standard - living
nations - rate - currencies
48. The U.S. is extensively involved in _____________ trade
technology
international
trade deficit
tariffs - quotas - licensing - health certification - voluntary quotas
49. Absolute _________ means that a country can produce more of a ____ than another country can
NAFTA
tariff
advantage - good
foreign exchange
50. Person who would protect domestic producers w/ tariffs - quotas - & other trade barriers
NAFTA
European Union
subsistence
protectionists