East Asia Economics/Government

What do you call people in a country who help create jobs which helps fuel economic growth?

• Lawyers

• Entrepreneurs

• Medical professionals

• Doctors

When a country helps educate its people by training them for various different work, this leads to....

• The GDP of that nation falling

• The GDP of that nation falling but not too fast

• The GDP of that nation is not affected

• The GDP of that nation increases

The US government, after going to war with Japan in 1941, put an oil embargo on Japan. This resulted in what for the Japanese?

• Nothing changed in Japan except utility bills went down

• Japan's citizens had to pay more for oil

• Japan's citizens really didn't notice the oil embargo

• Japan's citizens ignored the oil embargo

There are many different trade barriers in the world that slow down economic growth or stop it completely, the ocean is classified as what kind of trade barrier between nations?

• Physical

• Cultural

• Mental

• Quota

An example of currency exchange is....

• 1 horse bartered for 1 cow

• 1 Indian Rupee equals 1.49 Japanese Yen

• 1 sheep sold for 1 horse

• 1 car sold for 1 truck

If a country has an abundance of oil or another natural resource, what do they usually do with it?

• they specialize in it

• they try to make people find jobs in other fields

• they do nothing because it's really not important in economics

• they allow for free markets to do what they want

Countries, like Japan, that do not have many natural resources have to do what to have a thriving economy?

• They create natural resources

• They deport natural resources

• They export natural resources

• They import natural resources

The US and Japan economically lean more...

• to the left on the economy spectrum towards a command economy

• to the right on the economy spectrum towards a pure market economy

• to the center left on the economy spectrum towards a command economy

• to the center right on the economy spectrum towards a command economy

Some countries are very isolated from others, economically speaking, like North Korea's...…..economy.

• command economy

• traditional economy

• capitalist economy

• free market economy

Which of these countries has a mixed market economy similar to that of the U.S.?

• China

• North Korea

• Vietnam

• South Korea