UNIT 7 EXAM (RACMMS) Riggins

Last updated about 7 years ago

21 questions

1

Library

UNIT 7 EXAM (RACMMS) Riggins

Last updated about 7 years ago

21 questions

1

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

1

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

1

Which law signed by Bill Clinton in 1994 economically ties Canada, the US, and Mexico together by eliminating tariffs between those 3 nations?

1

What is the definition of an embargo?

1

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

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

an assembly line for faster mass production

taking classes at a college to obtain a degree

fruits and vegetables being farmed

a sewing machine

a school installing better computers

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

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

human capital

entrepreneurship

capital goods

natural resources

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

A human capital

B capital goods

C entrepreneur

D natural resources

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

True

False

Select all of the following that are natural resources

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

Mexico

Brazil

Cuba

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

mixed economy

command economy

market economy

traditional economy

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

Which law signed by Bill Clinton in 1994 economically ties Canada, the US, and Mexico together by eliminating tariffs between those 3 nations?

Tariffs, quotas, embargos, and subsidies are examples of

trade deficits

sanctions

trade barriers

 restrictive licenses. 

What is the definition of an embargo?

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

producers and consumers in the marketplace

the central government

entrepreneurs

customs and beliefs

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?

South Asia and Europe have a similar per capita GDP. 

 Canadians enjoy a higher standard of living than South Asians. 

 Canadian governments spend less on public education than South Asian governments. 

 South Asian countries produce a larger number of manufactured goods than in Canada

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

A literacy rate above 90%

A higher than normal standard of living

A low Gross Domestic Product (GDP) per capita

More education citizens

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."

The Prime Minister believes that if his idea is followed 

the GDP of Canada nations will suffer. 

the GDP of Canada and the nations in NAFTA will continue to grow

other countries do not want to trade with Canada

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

buying new equiment

advertising

renting space

hiring new employees

GDP Per Capita(in current US$)
Canada: $45,790
Australia: $43,340
Russia: $11,400
Colombia: $26,435

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

The literacy rate in Russia is very high.

Canada and Australia have similar literacy rates.

Australia has a low standard of living.

Canada has a low literacy rate.

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?

Per capita GDP is higher for citizens in Paraguay than in Belize. 

Per capita GDP is higher for citizens in Belize than in Paraguay. 

Most of the citizens in Paraguay have high paying jobs. 

 The Belizian government will have better trade relations with other countries in Latin America 

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

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

an assembly line for faster mass production

taking classes at a college to obtain a degree

fruits and vegetables being farmed

a sewing machine

a school installing better computers

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

job training at the local steel mill

increased computer skills

power plant that generates hydroelectricity

a tobacco farm

learning a second language

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

human capital

entrepreneurship

capital goods

natural resources

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

A human capital

B capital goods

C entrepreneur

D natural resources

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

True

False

Select all of the following that are natural resources

A tobacco

B cotton

C job training

D timber

E computers

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

Mexico

Brazil

Cuba

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 

mixed economy

command economy

market economy

traditional economy

 Tariffs, quotas, embargos, and subsidies are examples of 

trade deficits

sanctions

trade barriers

 restrictive licenses. 

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

producers and consumers in the marketplace

the central government

entrepreneurs

customs and beliefs

 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? 

South Asia and Europe have a similar per capita GDP. 

 Canadians enjoy a higher standard of living than South Asians. 

 Canadian governments spend less on public education than South Asian governments. 

 South Asian countries produce a larger number of manufactured goods than in Canada

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

A literacy rate above 90%

A higher than normal standard of living

A low Gross Domestic Product (GDP) per capita

More education citizens

 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."

 

The Prime Minister believes that if his idea is followed 

the GDP of Canada nations will suffer. 

the GDP of Canada and the nations in NAFTA will continue to grow

other countries do not want to trade with Canada

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

buying new equiment

advertising

renting space

hiring new employees

  GDP Per Capita(in current US$)

Canada: $45,790

Australia: $43,340

Russia: $11,400

Colombia: $26,435

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

The literacy rate in Russia is very high.

Canada and Australia have similar literacy rates.

Australia has a low standard of living.

Canada has a low literacy rate.

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? 

Per capita GDP is higher for citizens in Paraguay than in Belize. 

Per capita GDP is higher for citizens in Belize than in Paraguay. 

Most of the citizens in Paraguay have high paying jobs. 

 The Belizian government will have better trade relations with other countries in Latin America 

UNIT 7 EXAM (RACMMS) Riggins

UNIT 7 EXAM (RACMMS) Riggins

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

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

Which law signed by Bill Clinton in 1994 economically ties Canada, the US, and Mexico together by eliminating tariffs between those 3 nations?

What is the definition of an embargo?

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

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

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

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

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

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

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

Which law signed by Bill Clinton in 1994 economically ties Canada, the US, and Mexico together by eliminating tariffs between those 3 nations?

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?

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

GDP Per Capita(in current US$) Canada: $45,790 Australia: $43,340 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?

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?

GDP Per Capita(in current US$)
Canada: $45,790
Australia: $43,340
Russia: $11,400
Colombia: $26,435

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