1.Which of the following best describes Gresham's Law

a. Good money chases out bad money

b. Bad money chases out good money

c. Bad money strengthens good money

d.Answers a and c

e. Answers b and c

2.Which of the following institutions would invest in a country's infrastructure?

a. Bank for International Settlements (BIS)

b. International Monetary Fund IMF

c. World Bank

d. Answers a and b

e. Answers b and c

3.When exports exceed imports we have a?

a.Trade Deficit

b.Budget Deficit

c.Trade Surplus

d.Answers a or c

e.Answers a or b

4.Which of the following is a purpose of Tariffs?

a.Raise revenues

b.Change behavior

c.Re-distribute wealth

d.Answers a and b

e.Answers b and c

5.A primary goal of international commodity agreements has been the:

a.Maximization of members' revenues via export taxes

b.Nationalization of corporations operating in member nations

c.Adoption of tariff protection against industrialized nation sellers

d.Moderation of commodity price fluctuations when markets are unstable

e.Freezing global commodity prices