Business Quiz (Updated)

This quiz goes over the main points brought up through chapters 1-5.

You have 15 minutes.

Good Luck!

Quiz by

Rate:

Last updated: March 10, 2022

You have not attempted this quiz yet.

More quiz info >>

First submitted	March 10, 2022
Times taken	22
Average score	40.6%
Report this quiz	Report

Quiz and answer stats >>

Friends stats >>

15:00

Enter Answer Here...

/ 32 guessed

The quiz is paused. You have remaining.

Scoring
You scored / = %

      This beats or equals
      % of test takers
      also scored 100%
      
The average score is 

        Your high score is
        
      
Your fastest time is 
more stats >>
friends stats >>

Keep scrolling down for answers and more stats ...

Question	Answer
What is a good or service sold to another country?	Export
What is someone legally classified as if they are not employed, but currently looking for employment?	Unemployed
What is the free trade agreement that Canada, Mexico, and the United States is currently in?	NAFTA
What is an example of a trade barrier?	Tariff/Embargo/Quota
What's a tax placed on an import called?	Tariff
What's it called when imports are taxed in order to protect a domestic industry from foreign competition?	Protectionism
What rises when supply falls?	Demand
What's it called when you spend more than you make?	Budget Deficit
What's it called when supply & demand are where they're supposed to be?	Market Value
What is the total amount of money a country owes?	National Debt
What does NAFTA stand for?	North American Free Trade Agreement
What does NAFTA promote?	Free Trade
Name one country in NAFTA (Which is not the United States).	Canada/China
What is the rate of which a currency can buy another one?	Exchange Rate
What is the currently unemployment rate of the United States (Jan 2022) in percent?	4%
Every business cycle includes a depression (True/False)	False

Question	Answer
What does IMF stand for?	International Monetary Fund
What does WTO stand for?	World Trade Organization
If 1 USD = 100 Japanese Yen, then how much Yen would be spent if I went out to dinner and spent $35.43?	3543
What does GDP stand for?	Gross Domestic Product
What does CPI stand for?	Consumer Price Index
If you trade an item with a value of $5 in return for an item with a value of $9, what did you make?	Trade Surplus
What country does the United States import the most from?	China
What is it called when you import more than you export?	Trade Deficit
Name a business listed in the top 5 of the Fortune 500.	Walmart/Amazon/Apple/CVS/UnitedHealth
The United States is currently in a trade surplus with Canada. (True/False)	False
What phase of the business cycle is the United States currently in?	Expansion
What is it called when countries specialize in producing what they are good at and trading with other nations for what they are good at producing?	Comparative Advantage
How many times a year does inflation rate come out?	12
Buying a used car counts toward GDP. (True/False)	False
What's the national debt of the United States? (Concatenate with letter variable. Ex: 45t, 45b, 45m, 45k)	35t
China inflates their currency/lowers its value so it can export more. (True/False)	True

No comments yet

Countries of the World Quiz

US States Quiz

12 Months in 15 Seconds

Fifty US States in One Minute

U.S. Presidents Quiz

Countries of Europe Quiz

World Capitals Quiz

Countries of the World with an Empty Map

Countries that Start with K

40 Historical People that Everyone Should Know

Flags of Europe Quiz

Countries that Start with L

2024 English Premier League Teams

Mythical Creatures Quiz #1

Counties of England Quiz

Save Your Progress