Final Exam Review
Final Exam Review
Final Exam Review
Final Exam Review
Final Exam Review
100
In a parliamentary government, how is the leader of the government chosen? a. The minority party in parliament chooses the leader. b. The majority party in parliament chooses the leader. c. The leader is chosen directly by the people.
b. The majority party in parliament chooses the leader.
100
Russia has a federal system when it comes to sharing power. How is power divided in the U.K.? a. Confederation b. Unitary c. Autocratic
b. Unitary
100
How do countries invest in physical capital? a. By creating better factories, machines, and technologies b. By getting the people better educated c. By relying on natural resources to create a strong economy d. By putting a tariff on all imports
a. By creating better factories, machines, and technologies
100
How do countries invest in human capital? a. Through the investment in education, training, and skills. b. Through investment in technology. c. Through investment in business. d. By allowing people to drop out of school.
a. Through the investment in education, training, and skills.
100
What is human capital? a. A country’s standard of living. b. The cash a business has to spend. c. Investment in the workers of a business or country. d. The buildings, equipment, and property owned by a business.
c. Investment in the workers of a business or country.
200
In a presidential democracy, how is the leader of the government chosen? a. The minority party in parliament chooses the leader. b. The majority party in parliament chooses the leader. c. The leader is chosen directly by the people.
c. The leader is chosen directly by the people.
200
Which economic system answers the three economic questions by relying on customs and habits? a. Market economy b. Traditional economy c. Command economy d. Mixed economy
b. Traditional economy
200
Which economic system means the government will make all economic decisions? a. Traditional b. Command c. Mixed d. Market
b. Command
200
What is a problem with exchanging currency? a. People make more money by trading currency. b. Most people want to use American dollars to trade. c. Banks do not like to exchange their money for other currencies. d. It costs more to do business because banks charge fees for exchanges.
d. It costs more to do business because banks charge fees for exchanges.
200
Because most economies have characteristics of the command economy and the market economy, we say they are _____. a. Free b. Hybrid c. Mixed Economy d. Communist
c. Mixed Economy
300
What is a similarity among how citizens can participate in government in the U.K., Germany, and Russia? a. All countries are autocratic, which means citizens cannot participate in government. b. All countries are oligarchic, which means citizens cannot participate in government. c. All countries are democratic, which means citizens hold power in government.
c. All countries are democratic, which means citizens hold power in government.
300
What type of trade barrier is an embargo? a. Free trade zone b. Tax on traded items c. Only allowing a certain amount of products into the country d. No trade
d. No trade
300
Which economic system means that consumers and producers will make all economic decisions? a. Traditional b. Command c. Mixed d. Market
d. Market
300
Which type of trade barrier involves a limit on goods brought into the country? a. Quota b. Tariff c. Embargo d. Voluntary Exchange
a. Quota
300
The European Union was created to… a. Practice reaching consensus. b. Isolate Russia and make it work alone. c. Promote the French franc as the money unit. d. Make Europe more competitive in world markets.
d. Make Europe more competitive in world markets.
400
What is the common currency that is used by most European Union member nations? a. U.S. Dollar b. Euro c. Peso
b. Euro
400
What is Gross Domestic Product (GDP)? a. The total value of all the final goods and services produced in a country in one year b. A tax on imported goods c. No trade d. Only allowing a certain amount of products into the country
a. The total value of all the final goods and services produced in a country in one year
400
A lot of countries have different currencies. How do countries still conduct business when the currency is different in each country? a. By using the International Currency Exchange System. b. The country just pays another country with whatever currency they have. c. They just do not conduct business. d. They barter.
a. By using the International Currency Exchange System.
400
Which type of trade barrier involves putting a tax on goods brought into the country? a. Quota b. Tariff c. Embargo d. Voluntary Exchange
b. Tariff
400
Who has the most government power in a parliamentary system? a. A citizen b. The monarch c. The Prime Minister d. A member of parliament
c. The Prime Minister
500
How is power shared within the European Union? a. Unitary b. Federal c. Confederation
c. Confederation
500
What is an entrepreneur? a. A person who taxes the wealthy b. A person who provides the money to start and own a business c. A person who works in government d. A teacher
b. A person who provides the money to start and own a business
500
The United Kingdom has a mixed economy, but does the U.K have more market economy principles or more command market principles? a. Market b. Command
a. Market
500
A country that does not invest in human capital will have problems because… a. There will be no money to pay its workers. b. Workers will learn on their own the skills they need. c. Businesses will not pay the taxes for good schools. d. Workers who are not educated, skilled, and healthy are less productive.
d. Workers who are not educated, skilled, and healthy are less productive.
500
A system where levels of government have equal power is ______. a. Federal b. Unitary c. Confederation
a. Federal
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