International Trade Agreements and Economic Policies Quiz

Test your knowledge on trade agreements, barriers, and economic policies. Explore topics like GATT, WTO, and FTA in this quiz.

#1

Which of the following is NOT a trade agreement?

NAFTA
WTO
NATO
EU
#2

What does the term 'FTA' stand for in international trade?

Foreign Trade Agreement
Free Trade Agreement
Federal Trade Agreement
Flexible Trade Alliance
#3

Which of the following countries is NOT a member of the European Union (EU)?

Germany
Norway
France
Italy
#4

What is the most common currency used in international trade?

Euro
Yen
Dollar
Pound Sterling
#5

Which international trade agreement aims to promote economic development in the Asia-Pacific region?

NAFTA
ASEAN
MERCOSUR
SAARC
#6

What does the acronym 'WTO' stand for?

World Trade Organization
World Taxation Office
World Trade Order
World Tariff Organization
#7

Which of the following is an example of a non-tariff barrier to trade?

Import Quota
Export Subsidy
Customs Duty
Value-added Tax (VAT)
#8

Which of the following is NOT a trade barrier?

Tariff
Subsidy
Embargo
Export Quota
#9

What is the purpose of the General Agreement on Tariffs and Trade (GATT)?

To promote the establishment of a single global currency
To regulate global immigration policies
To reduce barriers to international trade
To enforce international environmental standards
#10

Which of the following organizations is responsible for setting international trade rules and settling disputes?

IMF
UNCTAD
WTO
OPEC
#11

What is the main objective of trade liberalization?

To increase government intervention in trade
To decrease international trade barriers
To promote protectionism
To encourage bilateral agreements
#12

Which of the following is a primary goal of economic sanctions?

To promote international trade
To discourage specific behavior or actions
To increase foreign aid
To establish diplomatic relations
#13

What is the name of the agreement that aims to combat climate change through international cooperation?

Kyoto Protocol
Paris Agreement
Montreal Protocol
Copenhagen Accord
#14

Which country is the largest exporter of goods in the world?

China
United States
Germany
Japan
#15

Which economic theory advocates for unrestricted international trade?

Protectionism
Mercantilism
Keynesian Economics
Comparative Advantage
#16

Which trade agreement involves the United States, Mexico, and Canada?

TPP
CAFTA-DR
CUSMA
ASEAN
#17

Which of the following trade theories argues that a country should specialize in producing goods that it can produce most efficiently?

Protectionism
Mercantilism
Comparative Advantage
Balance of Payments
#18

Which of the following trade agreements involves countries in the Middle East and North Africa region?

EFTA
MERCOSUR
COMESA
GAFTA
#19

Which organization regulates international monetary cooperation and exchange rates?

World Bank
IMF
WTO
UNCTAD

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