AnswersOC27 Economics-2102310-Sem-MeadowsCurrencies and Exchange Rates

Currencies and Exchange Rates — Unit test Answers

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The graph shows gross domestic product in the US private sector from 2009 to 2017.

Question illustration
A
The economy suffered a setback in 2009 before rebounding in 2011.
B
The economy suffered a setback in 2009 before rebounding in 2010.
C
The economy suffered a setback in 2009 and had not recovered by 2011.
D
The economy suffered setbacks in the years 2009, 2010, and 2011.
42
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The chart below shows an exchange rate table.

Question illustration
A
US dollar.
B
Swiss franc.
C
Japanese yen.
D
euro.
43

International trade organizations promote free trade by encouraging countries to

A
maintain their tariffs.
B
establish their trade quotas.
C
reduce their trade barriers.
D
develop their products.
44

Which is an example of a country that is overly dependent on another country for critical goods and services?

A
a country that imports all its oil
B
a country that imports all of its luxury goods
C
a country that licenses some television shows
D
a country that has some international businesses
45

The map shows the world’s gross domestic product.Based on the map, which is the best conclusion that can be drawn about the economies of the US and Western Europe?

Question illustration
A
The US and Western Europe are strong because they have high GDPs.
B
The US and Western Europe are weak because they have low GDPs.
C
The US and Western Europe are strong because they have low GDPs.
D
The US and Western Europe are weak because they have high GDPs.
46

Read the following quotation by President Bill Clinton."Free trade can be a win-win for everyone, but only if it is based on fair rules, enforced faithfully, with adequate safeguards to protect the rights of workers and the environment.” With which statement would President Bill Clinton most likely have agreed?

A
Free trade helps every nation.
B
Free trade has drawbacks for participants.
C
Free trade will eliminate poverty.
D
Free trade must be carefully monitored.

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