international organization dealing with the rules of trade between nations. … an organization established by the industrialized nations in 1946 to loan money to underdeveloped and developing countries; formally known as
the international bank for reconstruction and development
.
What is a specific amount of money levied on each unit of a product brought into a country?
Fixed tariff
. A specific amount of money levied on each unit of product brought into the country.
What name is given to the ratio at which one nation’s currency can be exchanged for another nation’s currency or for gold?
In finance,
an exchange rate (also known as a foreign-exchange rate, forex rate, or rate)
between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency.
What name is given to the maximum number of units of a particular product that may be imported into a country?
A quota
is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period. Countries use quotas in international trade to help regulate the volume of trade between them and other countries.
Which of the following is the primary reason for establishing the World Bank?
The World Bank was established in 1944
to help rebuild Europe and Japan after World War II
. Its official name was the International Bank for Reconstruction and Development (IBRD). When it first began operations in 1946, it had 38 members. Today, most of the countries in the world are members.
What is a tariff example?
A tariff, simply put, is
a tax levied on an imported good
. There are two types. A “unit” or specific tariff is a tax levied as a fixed charge for each unit of a good that is imported – for instance $300 per ton of imported steel. … An example is a 20 percent tariff on imported automobiles.
What is the key to trade?
The key to trade-whether among people, states, or countries.
exports
. the goods and services that a country produces and then sells to other nations.
Which money is used as a substitute for currency?
Currency substitution is also known as dollarization when
the U.S. dollar (USD)
is the currency that is being used as a substitute. Currency substitution is commonly motivated by the need for a more stable monetary unit or in countries that are too small to capture the economies of scale of having their own currency.
What is the current system of exchange rates?
Current international exchange rates are determined by
a managed floating exchange rate
. A managed floating exchange rate means that each currency’s value is affected by the economic actions of its government or central bank. The managed floating exchange rate hasn’t always been used.
What is an example of an exchange rate?
That is,
the exchange rate is the price of a country’s currency in terms of another currency
. For example, if the exchange rate between the U.S. dollar (USD) and the Japanese yen (JPY) is 120 yen per dollar, one U.S. dollar can be exchanged for 120 yen in foreign currency markets.
Which statement best describes how globalization is affecting the world?
The correct answer is letter B:
The world is becoming more globalized and connected
. Due to modern means of communication and transportation, the world is unified. Some researchers believe that globalization is a natural process by which technology advances.
What are some examples of quotas?
Some items under a tariff rate quota in the United States include
tuna, olives, and ethyl alcohol
. There are also tariff quotas applied to imports from specific countries. For example, the U.S. limits imports of Australian beef, Bahraini tobacco, and Dominican peanuts.
What is it called when one country Cannot trade with another country due to political tensions?
An embargo
is a government order that restricts commerce with a specified country or the exchange of specific goods. An embargo is usually created as a result of unfavorable political or economic circumstances between nations.
Who owns the IMF?
| IMF Headquarters (Washington, DC) | Main organ Board of Governors | Parent organization United Nations | Staff 2,400 | Website IMF.org |
|---|
Who funds the World Bank?
The World Bank gets its funding from
rich countries
, as well as from the issuance of bonds on the world’s capital markets. The World Bank serves two mandates: To end extreme poverty, by reducing the share of the global population that lives in extreme poverty to 3% by 2030.
