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