UNIT 7 EXAM (RACMMS)

Select ALL of the following answer choices that are examples of capital goods?

(There may be more than one answer.)

Select ALL of the following answer choices that are examples of human capital.

(There may be more than one answer.)

Machinery, factories, computers, and equipment are all examples of __________________________________.

Computer skills, reading and writing skills, job training, education, and healthcare are all examples of ______________________.

If a country has a LOW Literacy rate them most likely they will have a HIGH standard of living?

Select all of the following that are natural resources.

(There may be more than one answer.)

Under which economic system would everything MOST LIKELY be owned and controlled by the government?

Canada trades with the United States more than it does with any other country. Industrially, private ownership among its citizens has made Canada one of the most advanced countries in the Western Hemisphere, with massive investment taking place since 1994. Still, over 1 million people live in government-owned housing and millions more are covered by government operated health care.

These facts show that Canada has a

Based on the economic continuum, in which country would citizens MOST LIKELY have the highest level of government regulation in the economy?

Tariffs, quotas, embargos, and subsidies are examples of

What is the definition of an embargo?

In a traditional economy, the decision to make (or not make) certain products is decided MOSTLY by

The average literacy rates in Canada is roughly 99%. The average literacy rates of countries in Southeast Asia is approximately 70%.

Based on this information, which of these is most likely to be true?

Which of the following would you LEAST likely find in Canada?

In a speech before the members of NAFTA, the Prime Minister of Canada urged all nations of North America to increase their funding of education programs. "Without the proper background in reading, math, and science, we cannot expect the students of today to become the productive workers of tomorrow. An investment in education is an investment in all secured financial future."

Which of these BEST represents capital goods investment for a company?

GDP Per Capita(in current US$)

• Canada: $45,790

• Germany: $33,340

• Russia: $11,400

• Colombia: $26,435

Based on these figures, which statement is MOST likely to be true?

According to 2010 CIA statistics, the literacy rate in Paraguay is approximately 88%, while the literacy rate in Belize is 98%. What is the MOST LIKELY result of this difference?

What language is the official language of the Candian province highlighted in RED?

Canada is home to more than one official language. Select each language that are spoken in Canada.

This factor of production is defined as "gifts of nature" or something that grows from the earth.

_______________ is someone who brings together natural resources, human capital, and capital goods to take a risk to start their own business.

Literacy Rates Across the World

-- Brazil 95.3%

-- Chile 88.8%

-- Nigeria 97.1%

-- Haiti 50.4%

-- Guatemala 75.0%

Based on the data from the chart above, which of the following statements would most likely be true?

Literacy Rates Across the World

-- Brazil 95.3%

-- Chile 88.8%

-- Nigeria 97.1%

-- Haiti 50.4%

-- Guatemala 75.0%

Based on the data from the chart above, which of the following countries would most like have the LOWEST standard of living?

Literacy Rates Across the World

-- Brazil 95.3%

-- Chile 88.8%

-- Nigeria 97.1%

-- Haiti 50.4%

-- Guatemala 75.0%

Based on the data from the chart above, which country would most like have the HIGHEST standard of living?

Based off of the chart, which of the following countries would most likely have lowest standard of living?

Costa Rica's GDP per capita (measured in US Dollars)

1990: $ 970 2000: $ 3,800 2010: $ 8,600 2018: $ 15,600

Using the information provided, which statement is MOST likely correct regarding Costa Rica's economy?

Many people in the Canadian province of Quebec want the state to become independent from Canada. Which of these statements BEST summarizes their case?

"This province is Catholic and French-speaking and shall remain Catholic and French-speaking. All the while asserting our friendship and our respect for the representatives of the other races and religions, all the while claiming our eagerness for giving them their fair share in every aspect [...] we solemnly declare that we shall never give up our rights that are guaranteed by law and by the constitution. Let us cease our confict and struggles and let us unite!" - Justin Trudeau, Prime Minister of Canada, June 24, 1889

What late-20th century issue could have been inspired by Trudeau's words?

____________________ is the name given to French-speaking citizens of Quebec who want Quebec to secede (break away) from the the rest of Canada.

"In 2010, Mexico imposed a limit of 250,000 tons of sugar that could be imported into Mexico. "

In 1994 an economic agreement known as the North American Free Trade Agreement (NAFTA) that eliminated tariffs between nations was signed. Please select the nations that signed the NAFTA agreement.

What is the title of the chief executive in a parliamentary democracy? They are in control of the day-to-day operations of the country and have the most political power.

In a parliamentary democracy, the ______________ serves as the figurehead of the nation. Their duties are ceremonious and they have no real political power.

-- headed by a prime minister

-- constitutional monarchy

-- Queen of England is the figurehead of the nation

-- political leader is a member of legislature called Parliament

-- citizens have high level of participation in government functions

The information above means that Canada's government is classified as a ______________________