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International trade - Quiz
International trade
  • 1. What is international trade?
A) Trade between companies in the same country
B) Domestic trade within a country
C) Exchange of goods and services between countries
D) Trade conducted online
  • 2. What is a tariff?
A) A subsidy for exporting companies
B) A restriction on the quantity of goods imported
C) A tax on imported goods
D) An agreement to increase trade
  • 3. Which organization regulates international trade rules?
A) International Monetary Fund (IMF)
B) World Trade Organization (WTO)
C) European Union (EU)
D) United Nations (UN)
  • 4. What is the balance of trade?
A) The total value of goods traded internationally
B) The process of negotiating trade agreements
C) The tax imposed on imports
D) The difference between a country's exports and imports
  • 5. What is the main goal of protectionist trade policies?
A) To promote free trade
B) To increase imports
C) To protect domestic industries from foreign competition
D) To lower prices for consumers
  • 6. Which country is the world's largest exporter?
A) China
B) Japan
C) United States
D) Germany
  • 7. What is the World Trade Organization (WTO) responsible for?
A) Setting rules for global trade and resolving disputes between countries
B) Facilitating immigration policies
C) Promoting a single global currency
D) Providing financial aid to developing countries
  • 8. How can international trade affect local employment according to a 2018 study?
A) It can increase local employment.
B) It always decreases local employment.
C) It only affects nonmanufacturing sectors.
D) It has no effect on local employment.
  • 9. What may make it more environmentally friendly to import certain foods?
A) Better transportation infrastructure.
B) Higher demand for exotic foods.
C) Lower production costs abroad.
D) Regional differences in harvest seasons.
  • 10. What is a significant factor in the trade-offs between local and distant food production?
A) The cost of labor in different regions.
B) The demand for luxury goods.
C) Limited studies comparing environmental impact.
D) The availability of international shipping routes.
  • 11. Which database is known for providing historical documents on international trade?
A) FRASER (St Louis Fed)
B) MIT Observatory of Economic Complexity
C) United Nations Commodity Trade Database
D) Trade Map
  • 12. Which organization provides a portal for OECD trade statistics?
A) Trade Map
B) MIT Observatory of Economic Complexity
C) United Nations Commodity Trade Database
D) Statistical Portal: OECD
  • 13. Which country imposed taxes only on the first 50 kg of gold exports per month?
A) Ghana
B) Sudan
C) Democratic Republic of Congo
D) Mali
  • 14. Which U.S. president first observed World Trade Week in Los Angeles?
A) President Barack Obama
B) President Donald Trump
C) President George W. Bush
D) The tradition began with the Los Angeles Area Chamber of Commerce in 1927.
  • 15. What is unlikely to help reduce resource risks according to the study?
A) Diversifying trading partners
B) Increasing local production
C) Reducing international trade
D) Implementing eco-tariffs
  • 16. When did President Barack Obama proclaim World Trade Week in 2016?
A) May 17–23, 2016
B) May 18–24, 2016
C) May 13–19, 2016
D) May 15–21, 2016
  • 17. What is a free trade agreement?
A) An agreement to restrict all exports
B) An agreement to control currency exchange rates
C) An agreement to impose tariffs on all imports
D) An agreement to reduce or eliminate trade barriers
  • 18. What is a relatively minor factor for carbon emissions in food production?
A) Energy consumption.
B) Food miles.
C) Nutrient recycling.
D) Water usage.
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