Intl Economics Quick Quiz

Froggy Jumps

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Test your understanding of trade and exchange concepts.

Créé par

Lilly Bright

United States

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Froggy Jumps Intl Economics Quick QuizVersion en ligne Test your understanding of trade and exchange concepts. par Lilly Bright 1 What is comparative advantage? a Having more resources than others b Producing all goods efficiently c Producing a good with lower opportunity cost 2 When do countries trade according to the guide? a Only with the same goods b When each has a comparative advantage in different goods c When tariffs are high 3 Which barrier is a tax on imports/exports? a Quota b Tariff c Embargo 4 What is a trade deficit? a Imports exceed exports b Exports exceed imports c Balanced trade 5 What does a tariff do? a Creates a free market b Lreeses the price of exports c Raises the price of imported goods 6 Which bloc aims to reduce barriers among members? a IMF b Trading blocs (EU/NAFTA/ASEAN) c World Bank 7 Free trade benefits include lower prices and more competition. a True b False c Only for exporters 8 What is exchange rate appreciation? a Pegged to gold only b Currency gains value relative to another c Currency loses value 9 Depreciation in exchange rates makes imports ___ and exports ___? a More expensive imports; cheaper exports b Cheaper imports; pricier exports c No effect on trade 10 Define 'exchange rate' briefly. a Quantity of currency in circulation b Value of gold per currency c Price of one currency in terms of another

Froggy Jumps

Intl Economics Quick QuizVersion en ligne

Test your understanding of trade and exchange concepts.

par Lilly Bright

What is comparative advantage?

Having more resources than others

Producing all goods efficiently

Producing a good with lower opportunity cost

When do countries trade according to the guide?

Only with the same goods

When each has a comparative advantage in different goods

When tariffs are high

Which barrier is a tax on imports/exports?

Quota

Tariff

Embargo

What is a trade deficit?

Imports exceed exports

Exports exceed imports

Balanced trade

What does a tariff do?

Creates a free market

Lreeses the price of exports

Raises the price of imported goods

Which bloc aims to reduce barriers among members?

IMF

Trading blocs (EU/NAFTA/ASEAN)

World Bank

Free trade benefits include lower prices and more competition.

True

False

Only for exporters

What is exchange rate appreciation?

Pegged to gold only

Currency gains value relative to another

Currency loses value

Depreciation in exchange rates makes imports _ and exports _?

More expensive imports; cheaper exports

Cheaper imports; pricier exports

No effect on trade

Define 'exchange rate' briefly.

Quantity of currency in circulation

Value of gold per currency

Price of one currency in terms of another

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Intl Economics Quick Quiz

Froggy Jumps

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Froggy Jumps

Intl Economics Quick QuizVersion en ligne

par Lilly Bright

What is comparative advantage?

When do countries trade according to the guide?

Which barrier is a tax on imports/exports?

What is a trade deficit?

What does a tariff do?

Which bloc aims to reduce barriers among members?

Free trade benefits include lower prices and more competition.

What is exchange rate appreciation?

Depreciation in exchange rates makes imports _ and exports _?

Define 'exchange rate' briefly.

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Intl Economics Quick Quiz

Froggy Jumps

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Froggy Jumps

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Froggy Jumps

Intl Economics Quick QuizVersion en ligne

par Lilly Bright

What is comparative advantage?

When do countries trade according to the guide?

Which barrier is a tax on imports/exports?

What is a trade deficit?

What does a tariff do?

Which bloc aims to reduce barriers among members?

Free trade benefits include lower prices and more competition.

What is exchange rate appreciation?

Depreciation in exchange rates makes imports ___ and exports ___?

Define 'exchange rate' briefly.

Depreciation in exchange rates makes imports _ and exports _?