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ECON - Unit 5B
Test Description: SSEIN2
Instructions: Answer all questions to get your test result.
1) The price of one currency expressed in terms of another currency... is called:
A
an exchange rate
B
a sanction
C
a quota
D
a trade barrier
2) In order to conduct business in another country, individuals must:
A
###
B
bring their own country's currency
C
####
D
obtain that nation's currency
3) An increase in the value of currency compared to another currency... is known as:
A
depreciation
B
####
C
inflation
D
appreciation
4) A decrease in the value of currency compared to another currency... is called:
A
depreciation
B
appreciation
C
####
D
inflation
5) When products within a country are in high demand:
A
the demand for its currency increases
B
###
C
####
D
the demand for its currency decreases
6) What happens when a nation's currency appreciates?
A
The goods become more affordable for other nations.
B
The goods become more expensive for other countries to buy.
C
####
D
###
7) When the U.S. dollar appreciates, there is usually:
A
a trade deficit
B
###
C
a trade surplus
D
####
8) As the U.S. dollar depreciates, it is usually correlated to:
A
####
B
###
C
a trade deficit
D
a trade surplus
9) A trade deficit occurs when:
A
###
B
exports are greater than imports
C
####
D
imports are greater than exports
10) A trade surplus occurs when:
A
###
B
####
C
exports are greater than imports
D
imports are greater than exports
*select an answer for all questions
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