Question 1

The European Union is

Accepted Answer

The European Union is an association of European nations formed to facilitate economic and political interactions across their borders.

Question 2

The concept applying to two or more nations that engage in an exchange of goods is ___________.

Accepted Answer

International trade refers to the exchange of goods and services between two or more countries.

Question 3

Creation of a government policy which ensures that relatively equal working conditions exist in nations that exchange goods is the benchmark of _____________.

Accepted Answer

Fair trade focuses on creating equitable working conditions and fair pricing in international trade, ensuring that producers in developing countries receive fair compensation and work under humane conditions.

Question 4

The Nuclear Non-Proliferation Treaty between the 190 member nations of the United Nations uses an entity to monitor and inspect nations' weapons capabilities, known as the ____________.

Accepted Answer

The correct entity is the International Atomic Energy Agency (IAEA), which is often referred to as the Atomic Energy Commission in this context. It is responsible for monitoring and inspecting nuclear capabilities under the Nuclear Non-Proliferation Treaty.

Question 5

A system which changes a bipolar system with only the United States and Russia in charge of global control in favor of a multipolar system means that there is a new....

Accepted Answer

A multipolar system involves multiple centers of power, both political and military, as opposed to a bipolar system dominated by two superpowers.

Question 6

If the overall American trade imbalance is large, which of the following must be happening?

Accepted Answer

American consumers are buying far more goods made in other countries than consumers from other countries are buying goods made in the United States.

Question 7

The point at which nations around the world experience high levels of interconnectedness in the economic, political, cultural, social, and military realms means that those nations have achieved ______________.

Accepted Answer

Globalization refers to the process by which nations become interconnected and interdependent across various domains such as economic, political, cultural, social, and military.

Question 8

Which entity in the United States is responsible for non-military foreign policy methods, such as improving living conditions inside a country?

Accepted Answer

The Department of State is responsible for non-military foreign policy methods, including diplomacy and international development efforts to improve living conditions in other countries.

Question 9

The U.S. government-funded organization that sends individuals on educational and cultural missions around the world is the __________.

Accepted Answer

The Peace Corps is a U.S. government-funded organization that sends volunteers on educational and cultural missions worldwide.

Question 10

Actions taken by the government to reduce import barriers in order to encourage more companies to exchange goods between countries result in the policy of ____________.

Accepted Answer

Free trade refers to the policy of reducing import barriers, such as tariffs and quotas, to encourage international trade and allow goods to move more freely between countries.

Question 11

It is reported that America has had a large trade imbalance with the country of China over the past year. Such a situation results from which of the following?

Accepted Answer

A trade imbalance occurs when one country imports more goods from another country than it exports to that country. In this case, American consumers buying far more goods made in China than Chinese consumers buying goods made in the United States results in a trade imbalance.

Question 12

The U.S. takes action to prevent an influx of new vehicles manufactured in China by Chinese corporations from being imported and entering the marketplace, which will reduce competition for U.S. auto manufacturers. This policy purposely raises import barriers to prevent unfair trade practices and is termed ____________.

Accepted Answer

Protectionism is a policy where a country imposes restrictions on imports to protect domestic industries from foreign competition.

Question 13

If the United States wished to provide American consumers the opportunity to purchase the least expensive products while shopping, which of the following policy approaches would be the most likely to achieve this goal?

Accepted Answer

Free trade allows for the import of goods without tariffs or restrictions, leading to increased competition and lower prices for consumers.

Question 14

The international organization that distributes grants and low-income loans in developing countries is the __________.

Accepted Answer

The World Bank provides financial and technical assistance to developing countries, including grants and low-interest loans, to reduce poverty and support development.

Question 15

Individuals or groups that do not represent any specific national government and may take action across borders are known as __________.

Accepted Answer

The term "nonstate actors" refers to individuals or groups that do not represent any specific national government and may take action across borders. This can include entities such as non-governmental organizations, multinational corporations, or terrorist organizations. Option A, B, and C are not accurate descriptions of this concept, and option D is too broad and could include state actors as well.

Question 16

If China were to impose a trading ban on a product that comes from the United States, and the U.S. wanted to appeal this decision believing it was an unfair trading practice, who would resolve the issue?

Accepted Answer

The World Trade Organization (WTO) is responsible for resolving trade disputes between countries, including issues related to unfair trading practices.

Question 17

The proper term referencing a congressionally-authorized limitation on any additional borrowing by the federal government when expenditures have reached the maximum allowable limit is the ______________.

Accepted Answer

The term "debt ceiling" refers to the maximum amount of money that the federal government is authorized to borrow to meet its existing legal obligations.

Question 18

The international organization that works to stabilize currency values and government debt for nations in economic difficulty is the __________.

Accepted Answer

The International Monetary Fund (IMF) is the organization that works to stabilize currency values and government debt for nations in economic difficulty.

Question 19

The North American Free Trade Agreement (NAFTA), is a comprehensive multi-nation trade agreement ratified in 1994 that attempted to eliminate trade barriers among which set of countries?

Accepted Answer

NAFTA was an agreement between Canada, the United States, and Mexico to eliminate trade barriers and facilitate cross-border movement of goods and services.

Question 20

When ownership and control of most elements in a society are subject to state restrictions where no individual ownership of large amounts of property or wealth is permitted, this concept is a key principle of which system?

Accepted Answer

Communism is a system where the state typically controls the means of production and property, aiming to eliminate private ownership of large amounts of property or wealth.

Quiz 16: Economic, Domestic, and Foreign Policy