Test your basic knowledge |

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






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






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






4. It was the oil _______ of the early ____s that pushed the U.S. to seek out new sources of ______






5. _________ is an expanding problem that ___________ seek to find answer to






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






7. ___________ argue _________ can't be controlled until economic __________ to pollute are removed






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






9. More than ___ years ago - it was predicted by _______ _______ the problems that would be associated w/ developing _______ : high ______ rates - _____ - threat of a subsistence ________ of ______






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






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






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






13. Resource created from living & nonliving materials






14. Person who would protect domestic producers w/ tariffs - quotas - & other trade barriers






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






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






17. Tax placed on an imported product






18. The basis for _____ today is called comparative _________






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






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






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






22. Individual who favors fewer or even no trade restrictions






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






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






25. Free enterprise system w/ some government involvement






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






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






28. [FIB] barriers to international trade:






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






30. Foreign currencies used by countries to conduct international trade






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






32. Prohibition on the export or import of a product






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






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






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






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






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






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






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






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






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






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






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






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






45. 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






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






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






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






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






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