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Unit 13 Review
Test Description: Unit 13 review
Instructions: Answer all questions to get your test result.
1) in a command economy, how is it determined what goods and services will be produced
A
central gov planning decides what will be produced
B
consumers decide
C
busineses decide
D
supply and demand
2) which nations economy could be considered command
A
japan
B
australia
C
north korea
D
india
3) the north korea gov controls every aspect
A
market
B
traditional
C
command
D
mixed
4) which nation is best example of mixed
A
north korea
B
india
C
china
D
vietnam
5) changes in chinas economy...
A
china's shift to greater market
B
chinas economic stagnation
C
increased reliance on command
D
chinas isolation
6) its the worlds second largest econ
A
vietnam
B
japan
C
north korea
D
india
7) one of only few commands still left
A
north korea
B
vietnam
C
japan
D
india
8) gov owns all
A
traditional
B
command
C
market
D
new
9) which definition is best for market
A
gov decides
B
gov decides more
C
prices determined by buyers and sellers
D
goods sold in large stores
10) one country is more market and other is more closed, both powerful militaries
A
china and japan
B
china and india
C
north korea and china
D
india and japan
11) why is system of currency exchange needed?
A
they only use us dollars
B
there must be a way to pay for goods in different countries
C
they only accept gold and silver
D
nearly all world currencies are worthless
12) a tariff is tax on
A
imports
B
exports
C
food
D
services
13) an import quote is a
A
legal limit on exports
B
no more trading
C
tax on imports
D
legal limit on imports
14) during war which is used
A
quota
B
subsidy
C
tariff
D
embargo
15) why tariff or quota?
A
to stimulate the economy
B
to protect domestic jobs
C
to make goods cheaper
D
to expand markets
16) which nation has lowest lit rate?
A
vietnam
B
india
C
japan
D
china
17) which statement is true?
A
japan has lower lit rate but higher gdp
B
there is no relationship...EVER!!!!!
C
china has lower lit rate but higher gdp
D
japan has higher gdp and higher lit rate
18) a problem with japans economy is
A
lack of trading partners
B
lack of natural resources
C
too much land
D
too much money
19) why does japan have low growth?
A
india provided japan with loans for factories
B
japan has borowed vast amounts of money from china?
C
japans economy is already developed and robust
D
japans economic reporting is faulty
20) why does india rank at the bottom?
A
big population
B
big land area
C
government type
D
lit rate 65%
*select an answer for all questions
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