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
International Economics

Quiz
•
History
•
12th Grade
•
Medium
Aaron Gomez
Used 12+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
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
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