Unit 4 Summative

What industry does Germany specialize in?

• Steal

• Fishing

• Mining

• Automobiles

What do countries with market economies base their answers to economic questions on?

• What the Government wants to produce

• The customs of the country

• The DEMAND of the consumer

• What skills workers have

What do countries with command economies base their answers to economic questions on?

• what skills workers have

• what consumers demand

• what the government wants to produce

• what previous generations produced

What types of economies do the modern states of Germany and Russia have?

• pure market economies

• mixed economies

• pure command economies

• traditional economies

Which factor is the BEST indicator of a country's human capital?

• the national interest rate

• the tariff rate

• the national interest rate

• the literacy rate

In which type of economic system does the government have the MOST control of the economy?

• pure command economy

• mixed economy

• pure market economy

• traditional economy

How does investment in capital goods affect a nation's Gross Domestic Product (GDP)?

• It causes the nation's GDP to fall.

• It causes the nation's GDP to rise and fall irregularly from year to year.

• It causes the nation's GDP to cease to rise or fall at any significant rate.

• It causes the nation's GDP to rise.

Which nation has the largest economy in the European Union?

• Germany

• UK

• France

• Turkey

Which statement BEST summarizes the variety of economic systems throughout Europe?

• Most of them are primarily market economies with elements of command economies.

• Most of them are command economies, and the rest are nearly pure market economies.

• Most of them are primarily command economies with elements of market economies.

• Most of them are nearly pure market economies, and the rest are command economies.

How do the literacy rates in European countries affect the standard of living in Europe?

• Literacy increases participation in and profits from arts performances.

• Literacy opens the door to high-paying jobs in many different industries.

• Literacy enables fewer workers to do many low-skilled jobs.

• Literacy reduces the need for teachers, allowing former educators to take new jobs.