Final Exam Review Question Preview (ID: 19508)

2014 Spring.[print questions]

The number limit on how many items of a particular product can be imported from a particular country is ___.
a) embargo
b) tariff
c) quota
d) import

The economic system of communist countries is most closely related to which of the following:
a) traditional system
b) command system
c) market system
d) capitalism

Which is an example of human capital?
a) education
b) roads
c) factories
d) machinery

NAFTA is an example of which pattern of behavior between countries?
a) imposing trade tarrifs
b) establishing trade quotas
c) forming trade agreements
d) putting trade embargos

Most democratic nations have what type of economy?
a) mixed
b) traditional
c) command
d) market

Which is a lack of particular resource?
a) supply
b) demand
c) surplus
d) scarcity

Which of the following would reflect a country with a mixed economy?
a) Bartering between cities is a common practice.
b) A country’s distribution of resources is based on inheritance
c) A combination of privately-owned industry and government control.
d) Prices and wages are solely regulated by a country’s government.

What type of government is ruled by a few people?
a) oligarchy
b) autocracy
c) democracy
d) dictatorship

Which is NOT an economic trade barrier
a) mountain
b) tariff
c) quota
d) embargo

You live in a large country that has many states. The government’s power is divided between a central /national government and the state/local governments. Which term best describes the type of government system you have?
a) unitary
b) oligarchy
c) federal
d) communist

Communism is based on the teachings of
a) Adolf Hitler
b) John Locke
c) Plato
d) Karl Marx

Panama is a
a) peninsula
b) isthmus
c) canal
d) tributary

Most Latin American cultures are a mix of European and _________ cultures
a) Asian
b) Canadian
c) Native American
d) Australian

Aborigines share stories of creation. They call this time the
a) Dreamitme
b) Uluru
c) Spirit Time
d) Holy Time

Subsistence farmers rely on bartering goods in Mexico. What is this economic system called?
a) free market
b) traditional
c) mixed
d) command

Brazil is investing in education. This is an example of
a) capital goods
b) products
c) human capital
d) specialization

Miguel Hidalgo was known as the father of independence of
a) Bolivia
b) Mexico
c) Peru
d) Cuba

What did Toussaint L'ouverture want to achieve?
a) freedom for slaves
b) improved production of sugar cane plantations
c) control of the French, Spanish and British armies
d) a meeting with the French government in France to work on better working conditions

What is a mixture of Native American and European decent?
a) Spanish
b) Native American
c) Mestizo
d) Caucasian

Where did Aborigines originate from?
a) Europe
b) New Zealand
c) Asia
d) North America

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