ECON 2.3

Gross Domestic Product on a per person basis

• GDP per capita

• Gosplan

• Keiretsu

• Perestroika

• Solidarity

Central planning authority in the former Soviet Union

• GDP per capita

• Gosplan

• Keiretsu

• Perestroika

• Solidarity

fundamental restructuring of the Soviet economy, introduced by Mikhail Gorbachev

• GDP per capita

• Gosplan

• Keiretsu

• Perestroika

• Solidarity

independent Polish labor union founded in 1980 by Leck Walesa

• GDP per capita

• Gosplan

• Keiretsu

• Perestroika

• Solidarity

independently owned group of Japanese business firms united to regulate competition

• GDP per capita

• Gosplan

• Keiretsu

• Perestroika

• Solidarity

Which country is an example of a capitalist country

• Cuba

• Venezuela

• Singapore

• North Korea

What is the main difference between Japanese capitalism and capitalism in the U.S?

• Japan's government regulates private firms to keep competition at a minimum

• Japan does not permit sale of corporate stock.

• Japan has more dedicated and loyal workforce

• Japan's government is highly involved in day-to-day business management

What conclusion can be drawn about capitalism in South Korea's economic growth in the late 20th century?

• Capitalism can restore a damaged economy

• There is no real difference between socialism and capitalism

• Socialism can revive an economy over a prolonged period of time.

• A transition from capitalism to a command economy can involve struggle

Which of these statements apply to present day Sweden?

• It's taxation and unemployment rates are relatively low.

• It's unemployment rate and GDP per capita a relatively low.

• It's unemployment rate and GDP per capita a relatively high.

• It's GDP per capita and welfare payouts are both relatively low.

Which statement describes why the people in a nation with a command economy might resist a shift to a free market economy?

• people who hold political power are threatened by fundamental change

• Workers are reluctant to give up their participation in a classless society

• Workers are reluctant to accept complete government control of their economy

• Factory and Business owners are reluctant to place their capital under worker authority