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10 Cards in this Set
- Front
- Back
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Which of these is a main advantage AND goal of global trade? |
A)decreased industrialization B)improved government regulation C)the reduction of trade barriers D)increase in the wealth of the rich |
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Although it lost most of its value during and after World War II, the currency of Japan is now one of the strongest in the world. Japan's currency is called the |
A)Riel. B)Ruble. C)Won. D)Yen. |
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A trade surplus is generally known as a |
A)positive balance of trade. B)negative balance of trade. C)positive balance of payments. D)negative balance of payments. |
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Which organization was created to make trade between its members easier? |
A)European Union B)United Nations C)International Finance Corporation D)North Atlantic Treaty Organization |
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The purpose of the founding of the European Union (E.U.) in 1993 was to |
A)prevent the poor from causing a revolution. B)fight the growing global network of terrorism. C)guarantee the freedom of movement of people, goods, services and capital. D)move the nations of Europe into forming a single government to rule the continent. |
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Countries which export more than they import (i.e., which have a surplus in their balance of trade) still will have a $0 balance of payments. What is one way this occurs? |
A)The country will have to import more goods in the following year. B)The country will have funded the imports of other nations through loans. C)The country will have to negotiate new trade agreements with other nations. D)The country will have to increase its debt to cover the costs of the surplus. |
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Since the 1980s, Australia has increased its role in international trade significantly. Which of these actions would have helped to achieve this result? |
A)raising domestic taxes B)reducing barriers to trade C)focusing only on importing D)becoming politically liberal |
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"Protectionist" trade policies are designed to |
A)increase imports. B)protect domestic industry. C)reduce tariffs on foreign products. D)increase government transfer payments. |
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Which statement BEST reflects the difference between tariffs and quotas? |
A)Tariffs raise prices on exports, while quotas set limits on imports. B)Tariffs raise prices on imports, while quotas set limits on exports. C)Tariffs raise prices on exports, while quotas set limits on exports. D)Tariffs raise prices on imports, while quotas set limits on imports. |
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In 1999, the U.S. announced trade sanctions worth $116.8 million, targeting goods from France, Germany, Italy and Denmark. The sanctions were in retaliation for a ban on U.S. hormone-treated beef by which organization? |
A)ASEAN B)EU C)NAFTA D)WTO |
