Canada Economics Review

What can raise the GDP of a country?

• Tariffs and Banking

• imports and exports

• picking trade partners

• Investing in education and training of the workforce

Canada is rich in which of the following natural resources?

• Trees

• Leather

• Oil

• Minerals

Gross Domestic Product measures the 

• quantity of the goods and services produced in a given year, listed item by item, within a country.
• market value of the final goods and services produced in a given year within a country.
• measures the market value of the domestic labor in a given year within a country. 
• market value of the final goods and services consumed by households in a given year within a country.

What are the 4 factors of economic growth in a country?

• Land, Labor, Capital, Entrepreneurship

• Entrepreneurship, Natural resources, Human resources, Capital resources

• people, trees, machines, sun

• weather, trees, dirt, people

The _________________ the county's GDP, the better the standard of living.

• lower

• higher

• Entrepreneurship

• natural resources

Things that are found on the earth are called?

• Human resources

• capital resources

• Natural resources

• Entrepreneur

What are examples of natural resources?

• water

• trees

• soil

• all of the above

The higher the GDP per capita, the _____________________.

• Higher levels of happiness

• Higher standard of living

• Equal levels of wealth

• Self-sufficient communities

Definition of import.

• material that are shipped in from another country.

• materials that are shipped out from the home country to another country.

Definition of export.

• materials that are shipped out from the home country to another country.

• materials that are shipped in from another country.