SS7E8-9

Someone that takes risks and opens his or her own business.

• Buyer
• Capital Good
• Consumer
• Entrepreneur

Total market value of all goods and services produced in a country in a given year

• Literacy
• GDP
• Inflation
• Wages

The GDP of a country is influenced by its literacy rate

• True
• False

The natural resources of a country does not influence its GDP.

• True
• False

India and Japan have invested in factories, machinery, and technolgoy. They have invested in.. 

• human capital
• capital goods
• natural resources
• imports

Tax on imported goods is ___________

• a tariff
• a quota
• an embargo
• the reason we can't have nice things

A limit on imported goods is  _____________________ 

• a tariff
• a quota
• an embargo
• a lemonade stand

When we completely stop trading with another country, it's called ____________________

• a tariff
• a quota
• an embargo
• a hissy fit

In 2010, China announced that it would impose an import tax on American poultry of up 105.4 percent. This is an 

• Tariff
• Embargo
• Quota

Why is a system of currency exchange necessary for international trade?

• Nearly all world currencies are worthless on the world market
• Those buying goods on the world market only accept payment in gold and silver
• Most goods bought on the international market must be bought and paid for using United States dollars only
• There must be a way to pay for goods purchased from countries with different types of currencies due to Nationalism