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Economics Of Europe
Test Description: Review economic terms of Europe.
Instructions: Answer all questions to get your test result.
1) Which economy has the most government control and the least citizen participation?
A
command
B
traditional
C
mixed
D
market
2) Which trade barrier stops trade between countries for political or environmental reasons?
A
quota
B
barrier
C
tariff
D
embargo
3) A person who has innovative ideas and is willing to take a risk is a(n)
A
entrepreneur
B
duma
C
quota
D
chancellor
4) The currency developed by the EU to make trade easier is the
A
Pound
B
Euro
C
Franc
D
Wruble
5) The 27 member organization that encourages trade among countries in Europe is the
A
European Union
B
Federal Assembly
C
State Duma
D
Judicial Branch
6) What once currency is worth in another country is it's _____.
A
GDP
B
foreign exchange rate
C
quota
D
embargo
7) The total worth of a country\'s goods & services produced in a year is its ______.
A
literacy rate
B
standard of living
C
foreign exchange rate
D
gross domestic product
8) The ability to read & write, known as ______________, has great affects on a country\'s GDP.
A
literacy rate
B
standard of living
C
judicial system
D
federal system
9) A limit on imports of goods produced is a(n)
A
embargo
B
tariff
C
quota
D
GDP
10) The level of comfort measured by goods and services available is the
A
standard of living
B
GDP
C
foreign exchange rate
D
literacy rate
*select an answer for all questions
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