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Economy
Test Description: Economics Part 2
Instructions: Answer all questions to get your test result.
1) The United States is a developing country
A
False
B
True
2) An organization dealing with trade between nations.
A
World Trade Organization
B
Gross Domestic Product
C
European Union
3) A resource that cannot be replaced naturally, such as coal or petroleum.
A
natural resource
B
nonrenewable resource
C
renewable resource
4) A resource that Earth replaces naturally, such as water, soil, and trees.
A
nonrenewable resource
B
renewable resource
C
natural resource
5) The total market value of all goods and services produced in a country in a given year, per capita
A
GDP
B
IMF
C
WTO
6) Money or income that is not used to purchase goods or services
A
debt
B
savings
C
income
7) The money that a borrower pays to a lender in return for a loan.
A
taxes
B
demand
C
interest
8) Money given on the condition that it will be paid back, with interest
A
taxes
B
credit
C
loan
9) The payment a worker receives for his or her labor
A
taxes
B
interest
C
wage
10) An organization of countries that promotes peace and security around the glove
A
European Union
B
World Trade Organization
C
United Nations
*select an answer for all questions
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