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 Which database is known for providing historical documents on international trade?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