Economics/Government

A country has a low literacy rate. What does this mean?

• Many people can read and write.

• Not many people in the country can read or write.

• The country trades a lot.

• The country does not have product.

Which one of these means two parts?

• Unicameral

• Monopoly

• Oligopoly

• Bicameral

A shirt coming from Italy costs more than the same shirt from the United States. This is an example of a

• Tariff

• Quota

• Embargo

• None of the above.

Placing a limit on trade is known as

• Embargo

• Per Capita

• Economic Growth

• Quota

Economy that's based on buyers and sellers

• Market Economy

• Command Economy

• Traditional Economy

• Pure Command Continuum

Gross Domestic Product is

• the total amount of goods and services produced in a country within a year

• the literacy rate

• the amount of people in a country that can read and write.

• the total amount of people in a country that can read divided by the employment rate

Which of the following is true?

• An embargo stops trade.

• Literacy rates do not affect standard of living.

• Countries prefer to import goods.

• GDP is not affected by human capital.

Which of the following is true?

• GDP is affected by the literacy rate of a country

• A tariff is a tax on EXPORTED goods.

• Quotas stop trade completely.

• Trade barriers make trade easier among countries.

Which of the following is an example of an autocratic leader?

• President

• Dictator

• Chancellor

• Prime Minister

Specialization is

• the ability to read or write

• focusing on one particular skill and becoming very good at it

• living very well

• a trade barrier