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International Economy Flashcards | StudBud
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International Economy
International Economy
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StudBud Administration
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Review for the international economic concepts for the Georgia standards
Flashcards
25 cards
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Practice quiz
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Host live
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Questions
25
Answers
1
Why are embargoes in place?
All options are correct
War time
Political unrest
Government disagreements
2
Currency appreciation is:
Good for imports bad for exports
Good for consumers and producers
benefits consumers, bad for producers
Good for producers for exports, Bad for consumers
3
What is a payment from the gov't to businesses?
Subsidies
Tariffs
Taxes
Recalls
4
These occur when one country has an abundance of resources and has better productivity.
Assembl lines
Productivity advances
Inventions
market advantages
5
Which is not a reason for trade barriers?
radical religion extremists
National security
health
Creating Competition
6
when the same product sells for the same amount of currency in different countries:
dual-currency
Purchasing power parity
dual pricing
economic parity
7
currency depreciation:
benefits producers because they can import more
benefits consumers because they can buy more imports
benefits producers because foreign countries can buy exports
harms the economy because it will create tariffs
8
creating devaluation in a nation's currency may cause
export increases
import decreases
import increases
export decreases
9
what is one key factor that affects exchange rates? (no one should get this wrong)
economic stability
consumer tastes
interest rates
productivity
10
Which is not an international trade organization?
European Union
OPEC
ASEAN
NAFTA
11
what may be a reason for a recall?
a cereal uses gluten enhanced bread
a plastic toy has a caution sign on its label for children
A company makes Legos with lead paint
McDonald's fake chicken
12
What is another means of regulating trade (other than embargoes and quotas) think generic
Standards
Tariffs
Milit enforcement
Currency exchanges
13
lowering a country's currency value on purpose is
inflation
recession
stagflation
devaluation
14
managed floating exchange rate floats within an agreed-upon band. A central bank may intervene.
false
true
15
what means a country can produce a product using less resources than competitors
Comparative advantage
Resource advantage
Absolute advantage
Market advantage
16
What do protectionists argue for?
Protect the elderly who have no retirement plan
Against free trade and protect borders
Protect the economy from poverty
Believe in protecting a nations borders from immigration
17
what is the study of how economies in different countries interact and affect one another?
The stock market exchange
International economics
Macroeconomics
National economics
18
What are the world band's recommendAtkins?
All are correct
Support free trade and limit inflation
Encourage free enterprise
Invest in people
19
what is the amount of goods and services that can be bought with a given unit of money ?
currency values
purchasing power
stacks on stacks on stacks
exchange ability
20
Which is an international trade organization?
NASA
European Union
NAFTA
World Bank
21
What is a quota?
A trade limitation due to political unrest
Certain amount of goods that can be exported
Limitation on trade due to over importations
A special amount of money made from exports
22
which rate establishes a price for a foreign currency that is tied to a stable currency?
floating exchange rate
fixed exchange rate
interest rate
insurance rate
23
which rate is determined by supply and demand?
fixed exchange rate
interest rate
insurance rate`
floating exchange rate
24
What is the exchanging goods and services across national borders?
Exporting
International trade
Importing
Over seas trade
25
Which would be an example of free trade?
Alaska trading with Russia
India trading elephants to Egypt
Cuba's trade with America
NAFTA
