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Jeopardy

Jeopardy. Choose a category. You will be given the answer. You must give the correct question. Click to begin. Choose a point value. Choose a point value. Click here for Final Jeopardy. Balance of Payments other. Exchange Rate. Free Trade. Trade Barriers. Previous. 10 Point.

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Jeopardy

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  1. Jeopardy Choose a category. You will be given the answer. You must give the correct question. Click to begin.

  2. Choose a point value. Choose a point value. Click here for Final Jeopardy

  3. Balance of Payments other Exchange Rate Free Trade Trade Barriers Previous 10 Point 10 Point 10 Point 10 Point 10 Point 20 Points 20 Points 20 Points 20 Points 20 Points 30 Points 30 Points 30 Points 30 Points 30 Points 40 Points 40 Points 40 Points 40 Points 40 Points 50 Points 50 Points 50 Points 50 Points 50 Points

  4. A balance of trade deficit is when? • The US export more than it imports • The US imports more than it exports • US currency buys less foreign goods • Balance of payments are balanced

  5. A balance of trade deficit is when? a. The US export more than it imports b. The US imports more than it exports c. US currency buys less foreign goods d. Balance of payments are balanced

  6. The Balance of payments includes all but • Capital goods • Current accounts • Balance of trade • Embargos

  7. The Balance of payments includes allbut a. Capital goods b. Current accounts c. Balance of trade d. Embargos

  8. Protectionist would not use this in an argument • a. Protecting against high prices • Protecting jobs • Protecting national security • Protecting infant industries

  9. Protectionist would not use this in an argument • a. Protecting against high prices • Protecting jobs • Protecting national security • Protecting infant industries

  10. If you can produce something at less cost than someone else, you have a • comparative advantage • balance of payments • absolute advantage • balance of trade

  11. If you can produce something at less • cost than someone, else you have a • comparative advantage • balance of payments • absolute advantage • balance of trade

  12. Even when you can make more items for less, you allow others to make some things, this is known as? • comparative advantage • balance of payments • absolute advantage • balance of trade

  13. Even when you can make more items • for less, you allow others to make some • Things, this is known as? • comparative advantage • balance of payments • absolute advantage • balance of trade

  14. If the US dollar goes up against the Japanese yen, who is hurt? • US tourist in Japan • Japanese tourist in the US • US business importing Japanese goods • Japanese business in the US

  15. If the US dollar goes up against the • Japanese yen, who is hurt? • US tourist in Japan • Japanese tourist in the US • US business importing Japanese goods • Japanese business in the US

  16. Measuring US currency against Russia’s currency is known as • trade deficit • balance of trade • exchange rate • disposable income

  17. Measuring US currency against Russia’s • currency is known as • trade deficit • balance of trade • exchange rate • disposable income

  18. If you were planning a trip to Iceland, where would you find the most current exchange rate? • Internet • News paper • Foreign embassy • Yellow pages

  19. If you were planning a trip to Iceland, where would you find the most current exchange rate? • Internet • News paper • Foreign embassy • Yellow pages

  20. When the government gives their exporting car company money it is a? • quota • tariff • standard • subsidy

  21. When the government gives their exporting car company money it is a? • quota • tariff • standard • subsidy

  22. How much would you receive if you wanted to change $100.00 US to British pounds? British US in in US British Dollars Pounds .664 1.509 a 33 British pounds b 66 British pounds c 100 British pounds d 150 British pounds

  23. How much would you receive if you wanted to change $100.00 US to British pounds?  British US in in US British Dollars Pounds .664 1.509 a 33 British pounds b 66 British pounds c 100 British pounds d 150 British pounds

  24. Free trade proponents would not use which argument? • a. US job security • restrictions hurt exports • specialization lowers prices • competition improves products

  25. Free trade proponents would not use • which argument? • a. US job security • restrictions hurt exports • specialization lowers prices • competition improves products

  26. All the following are trade organizations except? • EU • WWF • NAFTA • ASEAN

  27. ASEAN All the following are trade • organizations except? • EU • WWF • NAFTA • ASEAN

  28. The US withholds normal trade relations from? • Iraq • Mexico • Allied Nations • Terrorist Nations

  29. The US withholds normal trade • relations from? • Iraq • Mexico • Allied Nations • Terrorist Nations

  30. What was the impact of NAFTA on the US? • less trade • loss of low skilled jobs • loss of high tech jobs • Canadians moved south

  31. What was the impact of NAFTA on the US? • less trade • loss of low skilled jobs • loss of high tech jobs • Canadians moved south

  32. National security is one of the strongest arguments for? • free trade • protectionism • tariffs • standards

  33. National security is one of the strongest • arguments for? • free trade • protectionism • tariffs • standards

  34. A tariff is a • limit on the number of imports • government help to exporters • tax on imports • tax on exports

  35. A tariff is a • limit on the number of imports • government help to exporters • tax on imports • tax on exports

  36. A tariff on foreign shoes represents • embargo • subsidy • deficit • trade barrier

  37. A tariff on foreign shoes represents • embargo • subsidy • deficit • trade barrier

  38. A union member would most likely support • free trade • protectionism • NAFTA • Sarah Palin for President

  39. A union member would most likely • support • free trade • protectionism • NAFTA • Sarah Palin for President

  40. The US does not buy sugar from Cuba, because • tariff • quota • embargo • poor quality sugar

  41. The US does not buy sugar from Cuba, because • Tariff • b. Quota • c. Embargo • d. poor quality sugar

  42. What type trade barrier restricts Chinese cars from entering the US? • a. tariff • b. quota • standard • subsidy

  43. What type trade barrier restricts Chinese cars from entering the US? • tariff • quota • c. standard • d. subsidy

  44. In a pure market economy, who does the construction projects? • the government • nearest city • private enterprise • it doesn’t get built

  45. In a pure market economy, who does the construction projects? • the government • nearest city • private enterprise • d. it doesn’t get built

  46. Which term is associated with oligopoly? • interdependent • differentiation • central planning committee • monopolistic

  47. Which term is associated with oligopoly? • a. interdependent • b. differentiation • c. central planning committee • d. monopolistic • 2e

  48. In the GDP (C+I+G+Nx), houses are counted as? • Consumption • Investment • Government • Net Exports • 3e

  49. In the GDP (C+I+G+Nx), houses are counted as? • Consumption • b. Investment • c. Government • d. Net Exports • 3e

  50. The Fed’s #1 tool for controlling the money supply is? a. discount rate b. federal funds rate c. reserve requirement d. open market operations

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