SEA Econ Review 2: Question Preview (ID: 24310)


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Increased investments cause GDP to .......
a) Go up
b) Go down
c) Stay the same
d) Investment isn't related to GDP

Investing money in training software technicians is an example of .......
a) Human Capital
b) Capital Goods
c) Specialization
d) Gross Domestic Product

Most of the worlds economies operate this type of economic system:
a) Traditional
b) Command
c) Market
d) Mixed

Which of these words does NOT go with Market Ecnonomy?
a) Capitalism
b) Free Enterprise
c) Communism
d) Laissez-faire

Water, trees, oil, and fish are all examples of
a) Gross Domestic Product
b) Natural Resources
c) Embargo
d) Human Capital

System for changin currencies between countries:
a) Specialization
b) Embargo
c) Quota
d) Exchange Rate

The Great Leap Forward had farms turned into ________________.
a) Communes
b) Trade Barriers
c) factories
d) Collectives

Which country has the least natural resources?
a) North Korea
b) China
c) India
d) Japan

A fee or a tax on an imported good
a) Embargo
b) Tariff
c) Quota
d) Specialization

What happens if a country does not invest in human capital?
a) Gross Domestic Product (GDP) goes up
b) Gross Domestic Product (GDP) goes down
c) Gross Domestic Product (GDP) stays the same
d) Gross Domestic Product (GDP) isn't related to human capital

Which country is closest to the market side of the economic continuum?
a) North Korea
b) China
c) India
d) Japan

Which country is the least likely to promote individual ownership of businesses?
a) North Korea
b) India
c) China
d) Japan

Economic system that combines some principles of free market with some government control?
a) Traditional
b) Command
c) Market
d) Mixed

Which country is located closest to the command side of the economics continuum?
a) North Korea
b) China
c) India
d) Japan

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