Q4 Final Exam Review #1 Question Preview (ID: 31329)


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The total value of all goods and service produced by a country in a given year. This statistic is commonly used to compare the economic strength of countries.
a) Gross National Income (GNI)
b) Gross Domestic Product (GDP)
c) Literacy Rate Indicator (LRI)
d) Overall Trade Status (OTS)

Simon Bolivar is the name of the leader that led Mexico to win it's independence from France.
a) True
b) False
c) --
d) --

Why does international trade require a system for exchanging currencies?
a) It doesn't - all currencies have the same value
b) Different currencies have different values that are always changing
c) Different currencies have different values, but they never change
d) None of These are correct

The most commonly spoken languages in Latin America today are ______________ and _______________.
a) French - English
b) Spanish - English
c) Spanish - Portuguese
d) Spanish - French

Toussaint L'Overture, who was born a slave, is considered to be the symbol of Haitian independence from France.
a) True
b) False
c) --
d) --

Europeans imported slaves to work in mines and agricultural plantations of their New World colonies as a part of the Columbian Exchange. The majority of these slaves were imported from ___________.
a) Asia
b) Africa
c) Europe
d) Australia

Which of the following did NOT give the Spanish an advantage when fighting/conquering the civilizations of ancient Latin America?
a) Horses
b) Guns
c) Spanish Language
d) Diseases

Which of the following was introduced to the people of the America's FROM Europeans for the first time during the Columbian Exchange?
a) Corn and Tobacco
b) Christianity and Horses
c) Tomatoes and Small Pox
d) The Europeans introduced ALL of these things to the America's for the first time.

When Spain added the Inca Empire to their own, they became very wealthy from the gold and riches of the Inca civilization. Who was the last Sapa Inca or king of the Inca people when the Spanish conquered them?
a) Atahualpa
b) Chichen Itza
c) Montezuma II
d) Huana Capac

After the Age of exploration, a network of trade between Europe, Africa, the America's introduced many new goods, ideas, people to all three places. This is referred to as the ________ _________.
a) Cuban Revolution
b) Columbian Exchange
c) Silk Road
d) American Revolution

Nazi Germany is an example of a government in which all power lies in the hands of one person. Citizen participation in this form of government doesn't really exist. What term would we use to describe such a government?
a) democracy
b) autocracy
c) oligarchy
d) communist

What is a tariff and why would a government put one in place?
a) a limit on the amount of imported goods that can come into a country - to make foreign goods cheaper
b) a limit on the amount of imported goods that can come into a country - to make foreign goods more expensive
c) a tax on imported goods - to make foreign goods cheaper
d) a tax on imported goods - to make foreign goods more expensive

Why do businesses in different countries specialize?
a) because they can sell more types of goods
b) so they can produce at a slower rate or pace
c) so the workers will not be come too good at one thing
d) because they can produce more good in less time, which will save them money

In my country the citizens directly elect our head of government and head of state. One person has both of these jobs.
a) parliamentary democracy
b) communist oligarchy
c) presidential democracy
d) autocratic dictatorship

In my country, our head of government is called Prime Minister. She is not elected directly by the citizens. She is the leader of the political party with the most seats in the legislature.
a) parliamentary democracy
b) presidential democracy
c) autocratic dictatorship
d) religious theocracy

Which of the following would be an example of how an entrepreneur could improve the Gross Domestic Product (GDP)?
a) closing down a factory
b) giving people jobs so they can have money to spend
c) firing workers
d) None of these would help the GDP

Which of the following would be an example of investment in physical capital?
a) A delivery company buys faster trucks.
b) A delivery company plants trees.
c) A delivery company hires someone to train it's workers to load trucks faster.
d) None of These

In most countries, producers and consumers are free to make most of their own economic choices, but the governments make some economic rules for the purpose of public safety. What do we call this type of economic system?
a) command
b) market
c) oligarchy
d) mixed

In this type of economic system the government makes ALL economic decisions.
a) market
b) capitalist
c) command
d) traditional

In this type of economic system producers and consumers are free to make their own economic choices without ANY government interference.
a) market
b) communist
c) command
d) autocracy

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