1.) The system of accounts that records a nation’s international financialtransactions is called its _______________ ? A.) Reserve accounts B.) Capital account C.) Balance of Payments D.) Non-Tariff Barriers2.) What is used as a political weapon or as a response to difficult balance-of-payments? A.) Blocked Currency B.) Government Approval C.) Non-Tariff Barriers D.) Import relief3.) To cope with universally floating exchange rates, the IMF developed which of thefollowing? A.) World Bank Group B.) NAFTA C.) WTO D.) Special drawing rights4.) Which of the following is an example of a trade barrier? A. Tariffs B. Great Wall of China C. Blocked currency D. Both A & C5.) The Omnibus Trade and Competitiveness Act of 1988 was designed to deal withall of the following EXCEPT? A. Eliminate trade barriers from all countries
B. Protectionism C. Trade deficits D. Open foreign markets6.) The World Bank Group performs which of the following services? A. Lend money to governments of developing country’s B. Lend money directly to private sectors C. Provides a guarantee against non commercial risk D. All of the above7.) The __________ is a global institution created to assist nations in becoming andremaining economically viable. A. IMF B. FCPA C. OMA D. VER8) At the close of the 1960s, U.S. multinational corporations (MNCs) were facingwhat major challenge(s)? A.) Trade surpluses B.) Resistance to direct investment C.) Increasing competition in export markets D.) A & C9) What account has a record all merchandise exports, imports, and services plusunilateral transfers of funds?
A.) current account B.) Capital account C.) Reserves account D.) Trading account10.) What organization is an institution that sets rules governing trade among its148 members and provides a panel of experts to hear and rule on trade disputes? A.) WTO C.) GATT C.) VERs D.) ProtectionismAnswers:1. C2. A3. D4. D5. A