Econ SW Asia Major 1

NOT an outcome for a nation that makes investments in capital goods...

• Citizens would participate more in elections

• Exports increase

• employment goes up

• technology use increases

Example of human capital

• Government helps private companies train employees

• Spending less than the worldwide average on education

• A literacy rate below 80%

• Public education provided for all through college.

Higher Literacy Rates produce higher standards of living.

• True

• False

Specialization can lead to

• an increase in foreign trade

• increase in entrepreneurship

• increase in human capital

• increase in government spending

Limit on the amount of goods that can be imported into a country.

• Tariff

• Quota

• Embargo

• Specialization

These protect domestic businesses from foreign competition by making foreign goods more EXPENSIVE than local goods.

• Tariffs

• Quotas

• Embargos

• Specialization

Stopping trade with a country to make that country change a policy.

• Tariff

• Quota

• Embargo

• Specialization

Converting currencies makes it possible for nations to buy and sell goods with each other.

• True

• False

Riyals

• Saudi Arabia's currency

• Israel's currency

• Iran's currency

• Turkey's currency

Petroleum

• main industry in Israel

• main industry in Turkey

• main industry in the USA

• main industry in Saudi Arabia