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- 1. Multiple Choice
What is NOT a benefit of Free Trade?
New market openings.
New jobs available.
No variation in goods
Raise countries standard of living.
- 2. Multiple Choice
True or False: Quota is an example of a trade barrier.
True
False
- 3. Multiple Choice
One reason to restrict trade is:
Companies at home need to be protected from unfair competition.
A country being independent.
Foreign competition can increase the demand for products made at home.
- 4. Multiple Choice
True or False: NAFTA combined the economies of United States and China.
True
False
- 5. Multiple Choice
Protectionism is …
a limit placed on the quantities of a product that can be imported.
the practice of the government putting limits on foreign trade to protect businesses at home.
- 6. Multiple Choice
True or False: Tariff is a trade barrier for political or military reasons.
False
True
- 7. Multiple Choice
What country practices protectionism in the areas of rice farming and auto production?
Japan
China
USA
Mexico
- 8. Multiple Choice
A benefit of Free Trade is:
Decrease in market openings
Availability of new jobs
Lack of variation in goods and services
- 9. Multiple Choice
The promotion of cultural understanding is
A benefit of free trade
A reason to restrict trade
- 10. Multiple Choice
True or False: Protectionism and Free Trade are from the same point of view.
True
False
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