Economic Development — Unit test Answers

What steps must countries take to transition to a mixed-market economy? Check all that apply.

Which best describes what a subsidy does?

Global trade provides consumers with

Which type of trade barrier is explicitly used for political purposes?

How do trade agreements of international organizations affect trade?

The images show the cost of the same bike in the United States and Britain.

The United States is said to have an absolute advantage in producing food compared with Japan. What does that mean?

Which of these statements most accurately describes currencies in North America?

Why were free trade zones created in China?

Tariffs and subsidies are both examples of

What can be a result of free trade? Check all that apply.

The chart below shows an exchange rate table.

Trade agreements are helpful because they allow countries to

The chart below shows an exchange rate table.

A treaty that can be signed between two or more countries to lower tariffs and improve the import and export of goods is a free trade .

When a country chooses to limit the kinds of goods or services it produces, it is practicing

Which trade organization is responsible for 90% of the world’s trade?

The graph shows China’s workforce from 2000 to 2019.

Which is the best example of outsourcing?

Which situation might cause a country to specialize?