Europe Economics Review

Investing in machines, technology, factories would be investing in

• Human Capital
• Capital Goods
• Entrepreneurs
• Natural Resources

A person who risks his own money to start a business.

• Explorer
• Conquerer
• Entrepreneur
• Government

This term refers to the number of goods a country produces in a year.  This higher this number the higher the standard of living.

• Per Capita GDP
• GDP
• Exchange Rate
• Currency

Factors that influence economic growth that can help raise the GDP are human capital, capital goods, natural resources, and entrepreneurship.

• True
• False

This term refers to the limited Supply of something.  Ex:  Fresh Water in a desert.

• Abudance
• Scarcity
• Quota
• None of the above

When supply goes down and demand goes up, prices go _____

• Higher
• Lower
• Stay the Same
• None of the above

When supply goes up and demand is low, prices go ______

• Higher
• Lower
• Stay the Same
• None of the above

Because country's currency is worth different amounts than others, countries must rely on

• Trade Barriers
• NAFTA
• Exchange Rates
• Embargos

This term refers to the type of money a  country uses

• Exchange Rate
• Free Trade
• U.S Dollar
• Currency

This agreement united 27 countries in Europe who can trade without trade barriers and use a common currency.

• Nafta
• European Union
• OPEC
• United Nations