SEA Econ Review 2: Question Preview (ID: 24310)

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Increased investments cause GDP to .......
a) Go up b) Go down c) Stay the same d) Investment isn't related to GDP
Investing money in training software technicians is an example of .......
a) Human Capital b) Capital Goods c) Specialization d) Gross Domestic Product
Most of the worlds economies operate this type of economic system:
a) Traditional b) Command c) Market d) Mixed
Which of these words does NOT go with Market Ecnonomy?
a) Capitalism b) Free Enterprise c) Communism d) Laissez-faire
Water, trees, oil, and fish are all examples of
a) Gross Domestic Product b) Natural Resources c) Embargo d) Human Capital
System for changin currencies between countries:
a) Specialization b) Embargo c) Quota d) Exchange Rate
The Great Leap Forward had farms turned into ________________.
a) Communes b) Trade Barriers c) factories d) Collectives
Which country has the least natural resources?
a) North Korea b) China c) India d) Japan
A fee or a tax on an imported good
a) Embargo b) Tariff c) Quota d) Specialization
What happens if a country does not invest in human capital?
a) Gross Domestic Product (GDP) goes up b) Gross Domestic Product (GDP) goes down c) Gross Domestic Product (GDP) stays the same d) Gross Domestic Product (GDP) isn't related to human capital
Which country is closest to the market side of the economic continuum?
a) North Korea b) China c) India d) Japan
Which country is the least likely to promote individual ownership of businesses?
a) North Korea b) India c) China d) Japan
Economic system that combines some principles of free market with some government control?
a) Traditional b) Command c) Market d) Mixed
Which country is located closest to the command side of the economics continuum?
a) North Korea b) China c) India d) Japan
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