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International Trade Agreements and Economic Policies Quiz

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Which of the following is NOT a trade agreement?

NATO

Explanation

NATO is a military alliance, not a trade agreement.

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

Free Trade Agreement

Explanation

FTA stands for Free Trade Agreement, facilitating commerce between nations.

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

Norway

Explanation

Norway is not an EU member.

What is the most common currency used in international trade?

Dollar

Explanation

The Dollar is widely used in global trade transactions.

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

ASEAN

Explanation

ASEAN focuses on economic development in Asia-Pacific.

What does the acronym 'WTO' stand for?

World Trade Organization

Explanation

WTO stands for World Trade Organization.

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

Import Quota

Explanation

Import Quota is a non-tariff barrier to trade.

Which of the following is NOT a trade barrier?

Subsidy

Explanation

Subsidy is a government support, not a trade barrier.

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

To reduce barriers to international trade

Explanation

GATT aims to decrease obstacles to global trade.

#10

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

WTO

Explanation

WTO governs trade rules and dispute resolution.

#11

What is the main objective of trade liberalization?

To decrease international trade barriers

Explanation

Trade liberalization aims to reduce global trade barriers.

#12

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

To discourage specific behavior or actions

Explanation

Economic sanctions aim to deter specific actions.

#13

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

Paris Agreement

Explanation

Paris Agreement targets climate change through global cooperation.

#14

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

China

Explanation

China is the world's largest exporter of goods.

#15

Which economic theory advocates for unrestricted international trade?

Comparative Advantage

Explanation

Comparative Advantage supports open international trade for efficiency.

#16

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

CUSMA

Explanation

CUSMA involves trade between the U.S., Mexico, and Canada.

#17

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

Comparative Advantage

Explanation

Comparative Advantage theory advocates for efficient specialization.

#18

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

GAFTA

Explanation

GAFTA involves trade agreements in the Middle East and North Africa.

#19

Which organization regulates international monetary cooperation and exchange rates?

IMF

Explanation

IMF regulates international monetary cooperation and exchange rates.

International Trade Agreements and Economic Policies Quiz

Which of the following is NOT a trade agreement?

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

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

What is the most common currency used in international trade?

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

What does the acronym 'WTO' stand for?

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

Which of the following is NOT a trade barrier?

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

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

What is the main objective of trade liberalization?

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

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

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

Which economic theory advocates for unrestricted international trade?

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

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

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

Which organization regulates international monetary cooperation and exchange rates?

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