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 Which database is known for providing historical documents on international trade?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