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BML MidTerm 3
Test Description: BML Midterm - set 3
Instructions: Answer all questions to get your test result.
1) Goods and services purchased from other countries are called
A
exports
B
stolen
C
furriners
D
imports
2) The difference between the value of goods and services sold by a country and the value of goods and services bought by a country is the country's
A
balance of trade
B
balance of payments
C
balance of power
D
balance beam
3) Which of these is likely to cause the value of a country's currency to fall?
A
more people wanting to buy goods and services from that country
B
a civil war breaks out
C
low interest rates
D
more people wanting that country's currency
4) Cultural and social factors that affect international business include
A
climate, geography, and political stability
B
language, religion, and values
C
balance in the force between Jedi and Sith
D
free agency, designated hitters, and the infield fly rule
5) Which of these does not affect a country's level of economic development?
A
seasons of
B
technology and infrastructure
C
agricultural dependency
D
literacy level
6) Types of trade barriers include all of these EXCEPT
A
duct tape
B
tariffs
C
embargoes
D
quotas
7) Limits on the amount of an item that can be brought into or out of a country are called
A
tacos
B
tariffs
C
embargoes
D
quotas
8) Embargoes are
A
big fans of turtles.
B
what Tarzan does when he wants to buy a drink.
C
a type of ship that moves a large quantity of goods.
D
a complete ban on trade with a country or in a specific product or service.
9) An area where products can be imported duty-free and then stored, assembled or used in manufacturing is called a(n)
A
end zone
B
o-zone
C
twilight zone
D
free trade zone
10) What are the goals of the World Trade Organization?
A
Collecting every Pokemon card and then choosing the weakest one to fight.
B
lowering tariffs, helping poor countries with economic growth, and enforcing free trade agreements.
C
Trading worlds, sort of like on Wife Swap.
D
blockading Naboo so they can not inform the rest of the Republic what the Trade Federation is up to.
*select an answer for all questions
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