NAME __________________Quiz 7, Chapter 3Good Morning!!!!!

A. In an Excellent Mood …..B. Average Mood :- …..C. Bad Mood …..D. Early Morning Classes are ToughE. Wish I Were Back In Bed!!

Question 1….TRUE OR FALSEThe Uruguay Round of GATT negotiations created the World Trade Organization to promote international trade and to settle international trade disputes

A. TRUEB. FALSE

Question 2……TRUE OR FALSEProfit opportunity and risk do not affect global trade

A. TRUEB. FALSE

Question 3…..TRUE OR FALSEA franchisor offers other businesses the right to produce and market its products within specific guidelines

A. TRUEB. FALSE

Question 4……TRUE OR FALSECompared to the U.S., the nations of China and India have larger populations but lower rates of economic growth.

A. TRUEB. FALSE

Question 5….TRUE OR FALSEThe United States has consistently experienced balance of trade surpluses over the past 30 years.

A. TRUEB. FALSE

Question 6…..TRUE OR FALSEEngland is part of the European Union … the Euro Zone.

A. TRUEB. FALSE

Question 7 ….TRUE OR FALSEThe World Trade Organization and its policies have led to a general decrease in worldwide tariff rates since 1948

A. TRUEB. FALSE

Question 8…MULTIPLE CHOICEA comparison of economic indicators among the six most populous nations indicates that thea) U.S. has by far the largest per capita GDP.b) U.S. has the fastest rate of economic growth.c) economy of Brazil is growing the fastest.d) size of the Chinese economy is the second largest, but it is growing very slowly.