DA review Econ unit 3 and 4

What is the primary function of the Port of Savannah in Georgia’s economy?

• Exporting agricultural products only

• Serving as a major gateway for international trade

• Providing recreational boating services

• Supplying water to local communities

Which city is home to one of Georgia’s major seaports, known for handling automobile imports and exports?

• Atlanta

• Brunswick

• Macon

• Augusta

What is the main purpose of the Northeast Inland Port in Georgia?

• To provide air travel services

• To facilitate the movement of goods between rail and truck

• To serve as a tourist attraction

• To supply electricity to the region

Which of the following best defines a multinational corporation?

• A company that operates only within one country

• A company that has operations in multiple countries

• A government agency

• A local non-profit organization

What is a trade barrier?

• A law that encourages free trade

• A restriction on the movement of goods between countries

• A type of transportation infrastructure

• A marketing strategy

What does GDP stand for?

• Gross Domestic Product

• General Domestic Policy

• Government Debt Payment

• Global Development Plan

Which formula correctly represents GDP using the expenditure approach?

What is the Consumer Price Index (CPI)?

• A measure of the total value of goods produced in a country

• An index measuring the average change in prices paid by consumers for goods and services

• A list of all products sold in a market

• A government spending report

Which term describes the market where households purchase goods and services from businesses?

• Factor market

• Product market

• Stock market

• Labor market

What is full employment?

• When everyone in the country has a job

• When all available resources are used efficiently, with only natural unemployment present

• When there are no businesses in the country

• When the government hires all workers