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Multiple Choice Quiz
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1
Protectionists assert that the import and sale of foreign goods results in
A)higher unemployment.
B)balance of trade problems.
C)weakened national defense.
D)all of the above.
2
A country can
A)import without exporting.
B)export without importing.
C)export only if it also imports.
D)increase its standard of living by exporting but not importing.
3
Demand for foreign currencies in the U.S. results from
A)U.S. exports.
B)foreign investment in the U.S.
C)U.S. travelers going abroad.
D)All of the above.
4
Import restrictions will
A)reduce demand for foreign currencies and decrease the exchange rate.
B)reduce demand for foreign currencies and increase the exchange rate.
C)increase demand for foreign currencies and decrease the exchange rate.
D)increase demand for foreign currencies and increase the exchange rate.
5
The balance of payments
A)is a cause for concern when it is negative.
B)refers to the difference between demand and supply of foreign exchanges.
C)is a statistical discrepancy.
D)all of the above.
6
A limit on the quantity of foreign goods that may be imported is a
A)tariff.
B)quota.
C)voluntary import restriction.
D)customs union.
7
A tax on imported goods is a
A)tariff.
B)quota.
C)voluntary import restriction.
D)customs union.
8
Dumping refers to
A)selling sub standard goods to other countries.
B)exporting goods at a low price.
C)throwing goods overboard to avoid being caught illegally exporting them.
D)exporting goods at a price below the cost of production.
9
Which of the following groups demands foreign currency?
A)foreign tourists in the U.S.
B)U.S. exporters.
C)U.S. importers.
D)all of the above.
10
Which of the following groups supplies foreign currency?
A)U.S. importers.
B)foreign tourists in the U.S.
C)U.S. tourists abroad.
D)U.S. investors in foreign countries.





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