International Economics

International Economics

12th Grade

10 Qs

quiz-placeholder

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International Economics

International Economics

Assessment

Quiz

History

12th Grade

Medium

Created by

Aaron Gomez

Used 12+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

To plan for his business trip to Denmark, Tony needs to know how many Danish krones his US dollars are worth. Tony needs to be aware of

the exchange rate.

any currency embargoes.

international tariffs.

whether or not the US dollar currently enjoys a comparative advantage in trade.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability to produce more of a given product using a given amount of a resource.

Absolute Advantage

Comparative Advantage

Positive Advantage

Negative Advantage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability to produce a product most efficiently given all the other products that could be produced.

Absolute Advantage

Comparative Advantage

Positive Advantage

Negative Advantage

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which a nation imports more goods and services than it exports.

Balance of Trade

Balance of Payments

Trade Surplus

Trade Deficit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which a nation exports more goods and services than it imports.

Balance of Payments

Trade Surplus

Trade Deficit

Balance of Trade

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A tax on imported goods.

Embargo

Subsidy

Tariff

Quota

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The use of trade barriers to protect a nation’s industries from foreign competition
Balance of trade
NAFTA
Quotas
Protectionism 

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