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What are SEZs?
a.) Serious Epidemic Zones
b.) Super Exciting Zebras
c.) Special Economic Zones
d.) Specialized Education Zones
c.) Special Economic Zones
Service and high-tech industry jobs offer all of the following benefits over manufacturing jobs EXCEPT...
a.) Higher standard of living
b.) Safer working conditions
c.) Shorter workweeks
d.) Higher pay
c.) Shorter workweeks
What is the OPEC?
a.) Coordinates and unifies the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers.
b.) The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization.
c.) A multinational organization.
d.) All of these.
d.) All of these.
Which term best describes hiring someone outside a company to do work that was once done by the company's own workers?
a.) Division of labor
b.) Smart growth
c.) Outsourcing
d.) Recycling
c.) Outsourcing
What does HDI mean?
a.) Human Diligent Index
b.) Human Driver Index
c.) Habitual Dazzled Identity
d.) Human Development Index
d.) Human Development Index
What is the smallest continent?
a.) Antarctica
b.) Europe
c.) Australia
d.) Africa
c.) Australia
What does digital divide mean?
a.) A division of those who have technological access and those who do not.
b.) The physical border where internet does not exist.
c.) A division of countries based on gross domestic product (GDP).
d.) None of these.
a.) A division of those who have technological access and those who do not.
Which of these is a major goal of the Organization of the Petroleum Exporting Countries (OPEC)?
a.) To find new oil deposits
b.) To increase oil consumption
c.) To decrease oil pollution
d.) To keep oil prices steady
d.) To keep oil prices steady
What are some characteristics of a developed country?
a.) The Problem of Unemployment and Underemployment.
b.) Technological Backwardness.
c.) Mass poverty.
d.) All of these.
d.) All of these.
What is the largest continent?
a.) North America
b.) South America
c.) Asia
d.) Europe
c.) Asia
All of the following statements are most likely true of a developed country EXCEPT...
a.) Most adults consume more that 3,000 calories a day.
b.) Most adults live in rural areas and work in agriculture.
c.) Most adults earn enough money to own cars.
d.) Most adults live in cities and work in factories or offices.
b.) Most adults live in rural areas and work in agriculture.
What is a free market economy?
a.) The government controls the means of production and the distribution of wealth, dictating the prices of goods and services and the wages workers receive.
b.) Where supply and demand regulate production and labor as opposed to government intervention.
c.) Economists advocate for self-sufficiency and individual profit.
d.) Everything is free.
b.) Where supply and demand regulate production and labor as opposed to government intervention.
What is spatial inequality?
a.) All of these.
b.) Communities having an equal amount of income and resources.
c.) The unequal distribution of resources and services across different areas or locations.
d.) None of these.
c.) The unequal distribution of resources and services across different areas or locations.
Which regions ARE NOT considered more developed?
a.) North America
b.) Europe
c.) Australia and New Zealand
d.) Southwest Asia and North Africa
d.) Southwest Asia and North Africa
A country that spends much of its wealth on education and health care is most likely to have...
a.) A high HDI ranking
b.) A large rural population
c.) A low life expectancy
d.) A small per capita GDP
a.) A high HDI ranking
The gross domestic product per capita is a measure of the total goods and services produced by a country divided by that country's...
a.) Total population
b.) Number of corporations
c.) Unemployment rate
d.) Gross national product
a.) Total population
What country has the largest population?
a.) United States
b.) China
c.) India
d.) Russia
b.) China
Name at least 1 benefit of trade...
Examples:
lowering prices, becoming or remaining competitive, developing relationships, fueling growth, reducing inflation, encouraging investment, and supporting better-paying jobs, etc.
In China, special economic zones have been set up to accommodate...
a.) Rural farms and cottage industries
b.) Headquarters for foreign companies
c.) Mining in areas rich in natural resources
d.) Industry funded by local investors
b.) Headquarters for foreign companies
The biggest problem in promoting development through the international trade alternative is...
a.) Unequal distribution of resources
b.) Regional cooperation
c.) Increased price of petroleum
d.) Increased demand for many goods
a.) Unequal distribution of resources
Which statement is the best description of comparative advantage?
a.) When a country has a bigger, better equipped military than another country.
b.) The ability of one country to import more goods than other countries in the same region.
c.) The ability of one country to produce a good or provide a service more effectively than another country.
d.) When a country has a higher birthrate than another country.
c.) The ability of one country to produce a good or provide a service more effectively than another country.
Define a single product economy.
Reliance on a single product by a country or economic system for income.
In theory, in a Planned Economy, the government controls the prices of basic goods and services to ensure that...
a.) The government has enough money to pay for defense.
b.) Everyone who wants a job has a job.
c.) All citizens have access to essential services.
d.) Everyone can play Minecraft.
c.) All citizens have access to essential services.
What could be a possible solution of a single product economy?
a.) Give up and not care.
b.) Turn to service type economies such as tourism.
c.) Diversify the system.
d.) Both B and C.
d.) Both B and C.
What motivates countries to join together economically?
a.) Comparative Advantage, OPEC, NAFTA, EU
b.) Cost Advantages
c.) Greater Supply
d.) All the above
d.) All the above