Unit 6 Review Question Preview (ID: 58243)
World Economies.
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The amount of income a household or individual has to invest, save, or spend after taxes and necessities are paid.
a) Discretionary Income
b) Income Stock
c)
d)
The difference in total value between payments into a country and out of a country over a period of time.
a) balance of payments
b) budget deficit
c)
d)
The emigration of highly trained or highly educated people from a country is often referred to as:
a) brain drain
b) inequality
c)
d)
An investment made by a company based in one country into another country.
a) Foreign direct investment
b) Monetary policy
c)
d)
The ratio of the number of deaths in the first year of life to the number of live births in a population over a period of time is known as the:
a) Infant mortality rate
b) Literacy rate
c)
d)
Improvements in health care in less developed countries (LDCs) can produce
a) Life expectancy to rise.
b) Death rates to rise
c)
d)
The WTO provides a forum to resolve trade disputes.
a) True
b) False
c)
d)
When a multinational corporation (MNC) establishes a facility in a less developed country (LDC) to produce goods
a) Workers in LDC receive new training.
b) All Investment gets channeled back to the LDC.
c)
d)
The following statement best reflects the concept known as protectionism:
a) Government actions that protect consumers.
b) Government actions that regulate the stock markets.
c)
d)
A government-imposed trade policy that limits the number of goods and services that can be imported or exported is known as a:
a) quota
b) ban
c)
d)
The IMF is part of the following international organization:
a) The World Trade Organization.
b) The United Nations.
c)
d)
The goods and services made by firms are purchased by households in:
a) Product market
b) Factor market
c)
d)
The economic and political system based on public or collective ownership of the means of production is known as:
a) Socialism
b) Capitalism
c)
d)
The main players in a free market system are:
a) Households and Firms
b) workers and the government
c)
d)
The economic and political system in which a country's trade and industry are controlled by private owners is known as:
a) CApitalism
b) Socialism
c)
d)
The economic and social system theorized by Karl Marx in which the means of production are owned in common is known as:
a) Communism
b) Socialism
c)
d)
Savings held by households and firms to be prepared for unexpected catastrophes.
a) currency reserves
b) tax revenues
c)
d)
was the location of a major nuclear power plant accident in 1986 in Soviet-controlled Ukraine.
a) Chernobyl
b) Kiev
c)
d)
The following statement best reflects changes in Soviet currency reserves in the 1980s:
a) Devaluation of the ruble led to a decline in currency reserves.
b) An increase in Soviet exports led to a sharp increase in currency reserves.
c)
d)
Efforts to improve the well-being of a community by promoting economic growth are known as
a) development
b) industrialization
c)
d)
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