Carr's 6th Grade Class Question Preview (ID: 40766)
#3.
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Which type of trade barrier involves adding a special tax onto goods brought into the country?
a) tariff
b) quota
c) embargo
d) voluntary exchange
In order to help US car companies sell more cars, some people want to put a limit on the number of cars that can be imported from other countries. This is an example of
a) tariff
b) quota
c) embargo
d) volunary exchange
The main purpose of NAFTA was to
a) increase trade by creating a large free trade zone
b) create tariffs between Canada, Mexico and the US.
c) decrease the SOL for some people while raising it for others
d) keep people in one country from buying goods from the other two countries.
What is the money people use in a country called?
a) trade
b) currency
c) exchange
d) voluntary
What is one reason for people to exchange currency?
a) to make more money by trading currency
b) most people want to use American dollars for trade
c) because different countries have different currencies
d) to buy and sell goods and services with other countries
What is an example of investment in human capital?
a) trucks
b) factories
c) education
d) highways
What is MOST likely to be in a country with a high literacy rate?
a) low standard of living
b) high standard of living
c) little investment in human capital
d) too much investments in capital resources
Which is activity is an example of investing in capital goods by a company?
a) constructing a new factory
b) throwing away old delivery trucks
c) giving workers more time off to rest
d) training workers to do their jobs better
Which item is an example of a natural resource?
a) furnaces
b) education
c) natural gas
d) automobiles
What are entrepreneurs?
a) businesses owned by the governments
b) people who start their own businesses
c) businesses that are organized to be successful
d) people who own farms and businesses that do not want to make a profit
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