Global Economics Final (Study Quiz)
Global Economics Final Quiz
Test your knowledge of global economics with this comprehensive quiz designed for students and professionals alike. With 29 questions covering various aspects of international trade, currency exchange, and global institutions, you'll gain a deeper understanding of the economic forces that shape our world.
Key Features:
- 29 multiple-choice questions
- Focused on real-world applications of economic principles
- Ideal for students, educators, and anyone interested in economics
US laws do not apply when doing business in foreign countries.
True
False
A developing country is also known as an emerging market.
True
False
The United States, Great Britain, Canada, and Australia are all industrialized countries.
True
False
Imports are goods sold to other countries.
True
False
Exports are goods that are sold to foreign countries.
True
False
The higher the currency's value, the stronger the economy is relative to other states.
True
False
When the price of a foreign currency is strengthened so is the US dollar.
True
False
Greater demand for products in a country translates to more demand for its currency.
True
False
Today, there are 190 countries classified according to their level of economic development.
True
False
Government use import restrictions to protect the health and safety of citizens.
True
False
When central banks influence exchange rates, it is called...
Managed float
Foreign exchange rate
Exchange rate
Floating currencies
The exchange rate set by the market forces of supply & demand in the foreign exchange market.
Managed float
Foreign exchange rate
Exchange rate
Floating currencies
What type of business produces & sells products in foreign countries and inside its own borders.
Multinational
Mininational
Emerging country
Developed country
A total ban on all goods coming into the country is called...
Quota
Tariff
Tax
Embargo
A duty or tax on imported goods is called a
Quota
Tariff
Tax
Embargo
Allowing only a certain number of items to be imported is known as imposing a...
Quota
Tariff
Tax
Embargo
The purposed of this organization is to provide a forum, handle disputes, and help developing countries.
WTO
FOREX
FTC
NAFTA
Endangered plant and animal species and products made from them are banned in the US by
GATT
WTO
Endangered Species Act
Environmental Regulations
Which of the following is not legally affected by US businesses opening in a foreign market?
U.S. Child labor laws
New Marketing techniques
Local labor laws
Required Legal documents
How many member countries are there in IMF?
85
200
110
189
Where is the IMF headquarters?
New York
Boston
Washington, DC
Miami
When was the IMF founded?
Dec 27, 1945
Dec 27, 1954
Mar 27, 1947
Mar 27, 1955
Which of the following is NOT a goal of the IMF?
Foster global monetary
Cooperation secure financial stability
Promote world peace
Facilitate international trade
Why was the IMF first founded?
Promote high employment
Allow currency to be exchanged freely and safely
Ensure sustainable economic growth
Reduce poverty around the world
Which of the following countries is NOT one of the biggest borrowers of IMF?
Portugal
Greece
Ukraine
Iceland
Which institutions comprise the World Bank?
BIRD & IMF
IDRB & ADI
IBRD & IDA
IRDB & ADI
When was the World Bank created?
1944
1945
1946
1947
Where are the World Bank Headquarters located?
Geneva
New York
Washington, DC
Paris
How does the IDA get funds to finance its operations?
Donations every 3 years
Quotas every 2 years
Donations every 4 years
Quotas every 3 years
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