CIS 175 WEEK 8 QUIZ 7
CIS 175 Week 8 Quiz 7
This quiz consist of 15
multiple choice questions and covers the material in Chapter 10.
1. Outsourcing is the
practice of
2. What do you call an
alliance of nations that share common external tariffs? A(n)
3. The European Union is
an example of a(n)
4. Environmental damage
must be addressed in international trade agreements when a country's actions
create
5. A tariff leads to a
leftward shift of the _______curve, resulting in ______ prices and __________
imports.
6. The primary factor
affecting the demand for any nation's currency is
7. Protecting an industry
that is vital to national security from international competition is
8. Which organization is
charged with settlement of international trade disputes?
9. What are taxes placed
on imports called?
10. The multi-national
currency adopted by members of the European Union is called the
11. Economists generally
agree that international trade restrictions
12. A country has a
comparative advantage in the production of any good that it can produce
13. Which of the following
is a likely result of a country engaging in free trade?
14. With international
trade, which of the following curves for an economy will shift outward?
15. A nation that enjoys a
lower opportunity cost in the production of goods, relative to another nation,
is said to have a(n)
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