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International trade
Contributed by: Grainger
  • 1. What is international trade?
A) Trade between companies in the same country
B) Trade conducted online
C) Domestic trade within a country
D) Exchange of goods and services between countries
  • 2. What is a tariff?
A) A restriction on the quantity of goods imported
B) A subsidy for exporting companies
C) An agreement to increase trade
D) A tax on imported goods
  • 3. Which organization regulates international trade rules?
A) European Union (EU)
B) United Nations (UN)
C) World Trade Organization (WTO)
D) International Monetary Fund (IMF)
  • 4. Which country is the world's largest exporter?
A) China
B) Germany
C) United States
D) Japan
  • 5. What is a free trade agreement?
A) An agreement to reduce or eliminate trade barriers
B) An agreement to impose tariffs on all imports
C) An agreement to restrict all exports
D) An agreement to control currency exchange rates
  • 6. What is the balance of trade?
A) The total value of goods traded internationally
B) The difference between a country's exports and imports
C) The process of negotiating trade agreements
D) The tax imposed on imports
  • 7. What is the main goal of protectionist trade policies?
A) To increase imports
B) To protect domestic industries from foreign competition
C) To promote free trade
D) To lower prices for consumers
  • 8. What is the World Trade Organization (WTO) responsible for?
A) Providing financial aid to developing countries
B) Facilitating immigration policies
C) Promoting a single global currency
D) Setting rules for global trade and resolving disputes between countries
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