7th SS EUA 2

What is typically true of Southwest Asian nations with large supplies of oil?

• They have higher standards of living than nations without oil.

• They have higher unemployment levels than nations without oil.

• They offer citizens fewer social services than nations without oil.

• They offer citizens more political freedom than nations without oil.

The events of the Holocaust led to what development in the years following World War II?

• worldwide support for the establishment of a Jewish state

• efforts by world leaders to limit the spread of communism

• the growing influence of fascism throughout Europe

• a return to isolationist policies by the United States

Oil accounts for over 90% of all Saudi Arabian export activity. This indicates that the Saudi Arabian economy has a high level of

• specialization.

• entrepreneurship.

• investment in capital goods.

• investment in human capital.

What is the purpose of a system of currency exchange?

• to encourage competition in the global marketplace

• to keep prices of necessary goods low for consumers

• to reduce the costs of producing goods for businesses

• to enable people in different countries to engage in trade

How do command economies compare to market economies?

• A. Command economies offer consumers greater choices.

• B. Command economies offer businesses greater freedom.

• C. The government plays a greater role in command economies.

• D. Supply and demand play greater roles in command economies.

In what way are Judaism, Christianity, and Islam similar?

• The Bible is considered the holiest book in each religion.

• The Koran is considered the holiest book in each religion.

• They all teach that Abraham was one of God's prophets.

• They all teach that Muhammad was one of God's prophets.

Look at the map of Southwest Asia. Then answer the question that follows. This map shows the location of which of the following?

• the Panama Canal

• the Grand Canal

• the Strait of Hormuz

• the Coral Sea

The stated goal of the Organization of Petroleum Exporting Countries is to

• stabilize the market for oil.

• remove barriers to trade in oil.

• invest in new oil technologies.

• standardize tariffs on crude oil.

Which of the following BEST describes a quota?

• a ban placed on all trade with a particular country

• a tax placed on goods imported from a country

• a tax on export goods paid to the exporting government

• a limit on the amount of goods that can be imported from a country

What are entrepreneurs?

• A. People who retire after working for one company for their entire lives.

• B. People who are elected to represent others in the government.

• C. People who volunteer their time and help charitable organizations.

• D. People who own and operate businesses and accept the risk of failure.