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ECON Unit 05 - Final Exam Review

Authored by Uncommon History

History

9th - 12th Grade

Used 24+ times

ECON Unit 05 - Final Exam Review
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14 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The most important indicator to determine the development level of a country is:

GDP per capita

Gross Domestic Product

trade balance

export ratio

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the value of exports is greater than imports, then a nation has a:

trade balance.

trade surplus.

trade deficit.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a country's money depreciates, its products become:

more expensive to other countries.

less expensive to other countries.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

$1 will purchase 10 Russian rubles on Monday. By Tuesday, it can purchase 12 rubles. The price of American exports to Russia would:

increase.

decrease.

remain the same.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Import barriers to make domestic goods cheaper will also cause companies:

to make higher quality products.

to lose the incentive to become more efficient.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The European Union is a trade and travel agreement that makes movement of people and goods:

easier.

harder.

the same.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

United States major trading partners include:

Mexico, Canada and China.

Mexico, Cuba and North Korea.

Mexico, Indonesia and Iran.

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