SS6E2 & SS6E3 Quiz (2)

Why does currency exchange exist?

• Because that is how countries trade

• Because it is a clause in NAFTA

• Because countries need money

• Because different countries have different currencies

What are the three trade barriers?

• Tariff, quota, and Gross Domestic

  Product (GDP)

• Quota, embargo, and currency

  exchange

• Tariff, embargo, and taxes

• Tariff, embargo, and quota

True or False. Trade must be voluntary.

• True

• False

What is the main purpose of NAFTA?

• To increase trade between Mexico, Cuba and the United States

• To help Mexican workers

• To increase trade between Mexico, Canada and the United States

• To raise the standard of living in Canada only.

What does NAFTA stand for and which countries are involved in NAFTA?

• National Alliance Free Trade Agreement. Canada, Mexico, and United States.

• North American Free Trade Agreement. Canada, United States and Mexico.

• North American Free Trade Agreement. Mexico, Cuba, and United States.

• National Agreement Free Trade Alliance. Cuba, Mexico, and United States

Which is/are an example(s) of human capital?

• Training

• Health

• Education

• All of the Above

Which is/are an example(s) of capital?

• Iron Ore

• Factory Machinery

• Natural Gas

• All of the above

What is the definition of literacy rate?

• the percentage of people in a population over 13 that can read and write

• the percentage of people in a population who can read in the United States

• the percentage of people in a population over 15 that can read and write

• the percentage of people in a population over 15 that cannot read and write

What is the definition of standard of living?

• the level of how wealthy people live within a population.

• the level of wealth and material comfort not available to a people.

• the level of wealth and material comfort available to poor people.

• the level of wealth and material comfort available to a people.

True or False. Entrepreneurs are not needed to grow a country's GDP.

• True

• False