Unit 3/4 Test - Economics And History Of SW Asia - Part 2 Question Preview (ID: 21593)

This Will Cover GA 7th Grade Standards Of SS7E5, SS7E6, SS7E7, And SS7H2.[print questions]

What is the relationship between investment in Human Capital (education and training) and GDP?
a) There is no proven relationship between the two
b) The better trained and educated a people are the higher the GDP will be.
c) A high GDP is responsible for all Human Capital
d) GDP and Human Capital are one and the same

How are the religions of the Arabs, Persians, and Kurds diverse?
a) Each has its own unique religion
b) All three are religious groups
c) All three are ethnic groups with the same religion
d) All three are ethnic groups with many different religions.

A duty imposed on goods when they are moved across a political boundary. (a tax on an imported good)
a) Tariffs
b) Human Capital
c) Quotas
d) Exchange Rate

How does specialization encourage trade between countries in SW Asia?
a) Countries will trade domestic products for foreign products
b) It will help the country become a world power.
c) It will increase natural resources
d) Stabilizes the exchange rate

What happens when the Organization of Petroleum Exporting Countries decides to reduce production of oil?
a) Oil prices fall
b) Oil prices increase.
c) Oil prices are not affected.
d) Natural gas production increases.

If a country does NOT invest in its human capital, how can it affect the country's gross domestic product?
a) GDP may go up because poorly trained workers will not be able to do their jobs well.
b) GDP may stay the same because there is no relation between the two.
c) GDP is only affected by investment in capital not human capital.
d) GDP may go down because poorly trained workers will not be able to do their jobs well.

What is used to fix the quantity of a particular good that foreign producers may bring into a country?
a) Tariffs
b) Human Capital
c) Quotas
d) Exchange Rate

Why is it important for nations to have a system to convert from one currency to another?
a) Converting to different currencies makes it possible to buy and sell goods between nations with different types of money.
b) All countries want the American dollar.
c) Converting to different currencies doesn't impact the ability to buy and sell goods btwn nations w/different types of money.
d) Currency is later exchanged for gold.

People who start businesses by using their own finances and ideas, while taking all the risk are called;
a) Entrepreneurs
b) Capitalists
c) Embargo
d) SpecialiZationists

In 1973, countries in the Middle East stopped exporting oil to the U.S. in protest against U.S. support of Israel. Such a strategy is an example of ;
a) a tariff
b) an embargo
c) a quota
d) a strike

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