Unit 10 Question Preview (ID: 41782)


Unit 10. TEACHERS: click here for quick copy question ID numbers.

Though it has an extremely low per capita GDP of $1900, it spends the majority of its budget on military and defense. What nation is described by these statements?
a) India
b) Japan
c) Vietnam
d) North Korea

South Korea is a developed country. Which of these is a characteristic of a developed country?
a) All people are wealthy.
b) Everyone is from a large family.
c) Most people have little education
d) Most people have access to medical care.

In the global economy, Japan is a major participant because their location
a) has made them a major military power.
b) allows Japan to received aid from the United States.
c) allows them to easily sell manufactured goods to the rest of the world.
d) has forced the majority of their population to work for international industry.

How does specialization allow for a higher standard of living?
a) Everyone is better educated.
b) Those who specialize have more money.
c) People who specialize are happier than those who don't.
d) People can trade for those items they don't produce themselves.

A tariff is a form of taxation on foreign products, while a quota is a ______ on imports from foreign countries.
a) boost
b) increase
c) limit
d) rise

Why is a system of currency exchange necessary for international trade?
a) Nearly all world currencies are worthless on the world market.
b) Those buying goods on the world market only accept payment in gold and silver.
c) Most goods bought on the international market must be bought and paid for using United States dollars only.
d) There must be a way to pay for goods purchased from countries with different types of currencies due to Nationalism

Countries around the world specialize production, and trade with other countries based upon
a) the overall size of the economy.
b) the rate of inflation in the economy.
c) the comparative advantage in production.
d) the amount of capital available to produce products with.

Why would the information on this chart be questioned for accuracy?
a) The United States is not listed for comparison.
b) India has a much more developed economy than the numbers indicate.
c) North Korea's literacy rate is so high yet its GDP per capita is so low.
d) Because of their Literacy rate, Hong Kong cannot have a higher GDP per Capita than Taiwan.

Which of these BEST describes the development of technology in India?
a) Technology-based businesses are hugely successful in parts of India.
b) India's government places little importance on science and technology.
c) Religious traditions have kept India from becoming technologically successful.
d) The Indian government refuses to share technology with the international community.

A problem that faces Japan's modern economy is
a) a lack of trading partners.
b) a lack of natural resources.
c) too much land to successfully control.
d) too much money is spent on the military.

India ranks in the bottom 25% in the world for Gross Domestic Product per capita. Which of these statistics BEST describes why this might be the case?
a) Literacy Rate: 65%
b) Population: 1.2 Billion
c) Total Area: 1.2 million sq mi
d) Government Type: Federal Republic

Japan's GDP per capita is extremely high but their GDP growth rate shows their economy is shrinking. Why might this be the case?
a) Japan's economic reporting is faulty.
b) Japan did not fully recover from World War II
c) India provided Japan with loans for factories.
d) Japan's economy is already developed and robust.

Which statistic would BEST explain China's ability to improve its economy so much for such a long period of time?
a) a life expectancy of over 74 years of age
b) military spending is 4.3% of GDP each year
c) mandatory levels of education and a 91% literacy rate
d) people under the age of 15 years are 20% of the population

China spends 1.9% of its GDP per year on education and Japan spends 3.5% of its GDP on education. Which statement is the most logical conclusion about the effects of such spending?
a) Japan has lower literacy rates and a lower GDP than China.
b) China has lower literacy rates but a higher GDP than Japan.
c) Japan has higher literacy rates and a higher GDP than China.
d) There is no relationship between the literacy rates and GDPs of the two nations.

PER CAPITA GDP: India: $2,563 China: $5,325 Japan: $34,296 Based on the relationship between literacy rates and per capita GDP, which nation has the LOWEST literacy rate among its citizens?
a) China
b) India
c) Japan
d) Vietnam

Despite having one of the largest economies in the world (based on nominal GDP) what problem faces Japan that could affect its economic growth?
a) It does not have a good coastline for trade.
b) It has a very small population of skilled labor.
c) It spends most of its tax money on the military.
d) It has a very limited supply of natural resources.

Because of its physical geography there is little land available for farming, so it is highly industrialized and imports most food products. What nation is described by these statements?
a) India
b) Japan
c) Vietnam
d) North Korea

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