Introduction
What percentage of the world's GDP does the US provide with less than 5% of the world's population?
26 %
In which region can you find the following cities? Atlanta, New Orleans, Houston
the South
Name the currency and its coins
dollar and cent
What percentage of the country is arable land?
about 50%
Name the 4 major economic regions. Which one is the most densely populated and the most sparsely populated?
the Northeast; the Midwest; the South; the West; densely - the Northeast, sparsely - the West
What is the most characteristic core concept of the American economy?
economic freedom; it's market-oriented
In which region can you find the following cities? St Louis, Chicago, Minnesota
the Midwest
What sentence can you find on all bills and coins?
In God we trust
Give 3 characteristic features of US agriculture in general
large-scale farms; lots of machines; the world's largest GMO products producer
Where is the so-called 'corn belt', the 'sun belt', and the 'orchard of the USA'?
Corn belt - the Midwest, Sunbelt - the South, Orchard of the USA - California
In the U.S., these two forces mainly determine the prices of goods and services.
supply and demand
Which region do the following states belong to? 'Wyoming, Oregon, Arizona'
the West
Name the city and the street where the world's largest stock exchange is to be found!
New York - Wall Street
Name the 2 main agricultural areas and 3 major crops
Central Lowlands; the Great Plains;
corn; wheat; cotton; tobacco; rice; sugarcane;
Name the most important heavy industry branches - where can you find them?
motor industry; arms and military equipment production, electronics - the North-Northeast and the Midwest - the Great Lakes area
What are the 2 basic ingredients of the US economy?
natural resources, labour force
The U.S. economy competes and cooperates globally with major economic powers like China and this group of countries.
the Europen Union
There is a dark side to all the wealth of the USA. What is it?
a huge gap between the rich and the poor; a large number of people without medical insurance or a regular income
Forestry is a special field as the country is the world's largest producer of timber. Name two types of wood that are produced.
softwood: fir and pine
hardwood: oak
Name the most important dynamic branches and where they are to be found.
microelectronics; information technology; space engineering; biotechnology - The North-Northeast; the West; space engineering - the South
How does the USA influence other economies of the world?
Through direct investments
How does the federal government influence the economy? Give 2 facts
Through indirect means e.g. purchasing certain goods; implementing antitrust laws; providing welfare and unemployment benefits
What does FED do? Name two functions of it.
controls the supply of money
implements the USA's financial policy
Name 3 areas where oil and natural gas are to be found.
Alaska; California; the Gulf of Mexico; Luisiana
What are the most important fields of industry in the West? Where are they located?
mining and hydroelectric power production - in the Rocky Mountains;
microelectronics and IT in California