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OAE - Integrated Social Studies: International Currency & Trade Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What is the exchange of goods between national borders?

Question 2 2. Which of the following is an inaccurate description of The Federal Reserve?

Question 3 3.

Given the following, what is the balance of payments?

Foreign Investment in Domestic sector = $1,000,000

Domestic Investment in Foreign sector = $500,000

Exports = $1,000,000

Imports = $2,000,000

Question 4 4. Which of the following is one of the primary goals of the IMF?

Question 5 5. Why did the U.S. trade deficit start to grow in the 1990s?

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Question 6 6. Why is a negative balance of payment bad for a country?

Question 7 7. A small country feels that its rights in international trade are being broken by a larger and more influential country. Which international organization can help mediate the dispute?

Question 8 8. The government issues a new two-dollar and fifty cent bill. What is the intrinsic value of the new currency?

Question 9 9. _____ are payments made by those in the domestic economy to purchase financial and physical assets in other countries.

Question 10 10. All of the following are true, EXCEPT that the current account _____.

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Question 11 11. Money that has an intrinsic value is called what?

Question 12 12. Identify the entity that has NOT significantly benefited by GATT:

Question 13 13. Why would you want your country to be assigned the Most Favored Nation status?

Question 14 14. What is the primary mission of the World Bank?

Question 15 15. The Federal Reserve achieves its monetary goals by doing which of the following?

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Question 16 16. All of the following are types of exchange rates that countries can use, except:

Question 17 17. George reaches into his wallet and pulls out a $20 US bill to pay for his coffee. By using currency to make a purchase, what is George actually doing?

Question 18 18. Which of the following statements regarding an exchange rate is not true?

Question 19 19. Which of the following lists is in the correct order, from least to most, of the market value of each of these financial assets?

Question 20 20. _____ are goods that are produced in a home country, but sold to foreign countries.

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Question 21 21. Which of the following is FALSE regarding the Federal Reserve?

Question 22 22. What is most likely to happen with a strong dollar?

Question 23 23. If a country had $1 million in exports and $1.5 million in imports, what would the trade balance be?

Question 24 24. Which two components make up the balance of payments account?

Question 25 25. If the American dollar rose in value in relation to the Japanese Yen, what would likely be the effect?

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Question 26 26. If U.S. exports to Japan increased, what most likely happened?

Question 27 27. What are goods that are produced in a foreign country but sold in a home country called?

Question 28 28. Which of the following measures of the money supply is largest?

Question 29 29. Which of the following financial assets is a debt instrument - a promise by the issuer to pay the holder their principal plus interest at some future date?

Question 30 30. What is the rate at which one currency is converted in another called?

OAE - Integrated Social Studies: International Currency & Trade Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Ohio Assessments for Educators - Integrated Social Studies (025): Practice & Study Guide  /  History Courses
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