NAME __________________ Quiz 7, Chapter 3 Good Morning!!!!! A. B. C. D. E. In an Excellent Mood ….. Average Mood :- ….. Bad Mood ….. Early Morning Classes are Tough Wish I Were Back In Bed!! Question 1….TRUE OR FALSE The Uruguay Round of GATT negotiations created the World Trade Organization to promote international trade and to settle international trade disputes A. TRUE B. FALSE Question 2……TRUE OR FALSE Profit opportunity and risk do not affect global trade A. TRUE B. FALSE Question 3…..TRUE OR FALSE A franchisor offers other businesses the right to produce and market its products within specific guidelines A. TRUE B. FALSE Question 4……TRUE OR FALSE Compared to the U.S., the nations of China and India have larger populations but lower rates of economic growth. A. TRUE B. FALSE Question 5….TRUE OR FALSE The United States has consistently experienced balance of trade surpluses over the past 30 years. A. TRUE B. FALSE Question 6…..TRUE OR FALSE England is part of the European Union … the Euro Zone. A. TRUE B. FALSE Question 7 ….TRUE OR FALSE The World Trade Organization and its policies have led to a general decrease in worldwide tariff rates since 1948 A. TRUE B. FALSE Question 8… MULTIPLE CHOICE A comparison of economic indicators among the six most populous nations indicates that the a) 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.