Quiz
Intro to Business Unit 6 Chapter 10
Perguntas do quiz (24)
1Domestic trade is when the same country produces, purchase, and sell the item.
- AVerdadeiro
- BFalso
2Which of the following is NOT true about why countries participate in world trade?
- Aa. countries take pride in buying their own items
- Bb. a country does not have suitable climate to produce that item
- Cc. other countries can produce the products cheaper
- Dd. other countries cannot produce as good of products
3How is the country’s currency determine how much it is worth when dealing with exchange rate?
- ANumber of other countries that demand its products
The overall demand of products from a certain country - Bc
- ANumber of other countries that demand its products
4For the month of October, France imports $1,000 worth of rice from Asia, $400 worth of Coffee from Columbia, and $500 worth of corn from the United States. France exports $700 worth of clothing to the United States. They also exported $400 worth of seafood to Canada. What is the balance of trade for France in the month of October? (Hint: Give the term, not the amount)
- ATrade Deficit
- Bc
5The United States government does not want its people to depend too much on oil as a country. To limit this from happening the government only allows so much into a country therefore there is a consistent amount throughout the year.
- Aquota
- Btariff
- Cembargo
- Dc. limitation
6Which of the following reasons is a reason why a country would want to share items that they produce with other countries?
- Aa. countries can become too dependent on other countries
- Bb. cheap labor in other countries can lower wages at home
- Cc. to offset their trade deficit
- Dd. protected from unfair foreign competition
7A country would place an embargo on another country due to which of the following reason(s)?
- Aa. political
- Bb. both political and military
- Cmilitary
- Dd. lack of finances
8Since the United States is at war with Iraq, the US is more careful on what they trade to them. US would place what on exports to Iraq that might harm the soldiers or the country in any way?
- Aa. none of the other answers are correct
- Bembargo
- Cquota
- Dtariff
9In order to make sure the price of tennis shoe does not fluctuate too much, the government will make sure that only a limited amount of tennis shoes come into the country. That way there will not be a surplus or deficit of tennis shoes and the price should stay fairly consistent due to the supply and demand not changing much.
- Aa. none of the other answers are correct
- Bb. tariff
- Cembargo
- Dquota
10The government puts limits on foreign trade to protect businesses at home.
- ASpecialize
- BProtectionism
- CComparative Advantage
- DWorld Trade
11The ability of a country or company to produce a particular good more efficiently than another country or company.
- ASpecialize
- BProtectionism
- CComparative Advantage
- DWorld Trade
12Focus on a particular activity, area, or product
- ASpecialize
- BProtectionism
- CComparative Advantage
- DWorld Trade
13Exchange of goods and services across international boundaries
- ASpecialize
- BProtectionism
- CComparative Advantage
- DWorld Trade
14Which of the following items does the US not import from the proper country?
- Aa. Coffee from Colombia
- Bb. Bananas from Honduras
- Cc. Sugar Cane from Hawaii
- Dd. Cars from Japan
15The United States produces their own cotton for t-shirt companies at a rate of $5.00 a pound. A country in Europe can produce cotton for $2.00 a pound. By the time shipping has been added to the price, it comes to about $3.00 per pound. What should the US government the US company does not go out of business.
- Aa. stop producing it in the US
- Bb. place an embargo
- Cc. set a quota
- Dd. place a tariff
16Business that is done in multiple countries is called domestic business.
- AVerdadeiro
- BFalso
17Zach Morris has some Mexican Pesos left over from his spring break vacation. Where does Zach need to go to exchange the Mexican Pesos for the American dollar?
- Aa. an airport
- Bb. foreign currency center
- Cc. foreign exchange market
- Dd. bank
18Which of the following choices is a product that the United States NOT commonly export to other countries?
- Aa. ESPN T.V. station
- Bb. machinery
- Cc. wheat
- Dd. pepper
19AC goes to Mexico for a vacation, he converts his American dollars into Pesos. What conversion rate would AC get when he went to exchange his money?
- Aa. last week
- Bb. the next business day
- Cc. best rate within the last week
- Dd. rate at the current time
20A country can have a trade deficit with two other countries but their overall balance of trade can still be a trade surplus.
- AVerdadeiro
- BFalso
21The exchange rate between two countries currencies changes everyday.
- AVerdadeiro
- BFalso
22Exports are goods and services that the country brings into the country to sell to other random people.
- AVerdadeiro
- BFalso
23Which of the following things does free trade NOT offer to individuals?
- Aa. opens up new markets
- Bb. new jobs
- Cc. better quality of products
- Dd. less variety
24Since the 1970’s World Trade has increased dramatically. Which of the following is NOT something that helped increase the trade?
- Aa. decrease in trade barriers
- Bb. telecommunication
- Cc. transportation
- Dd. protectionism
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- bdimemmo
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- English
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