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WorksheetsSS6E7, SS6E8, and SS6E9: European Economics
Total questions: 25
Worksheet time: 17mins
Name
Class
Date
1.
The European Union was created to
a)
practice reaching consensus.
b)
isolate Russia and make it work alone.
c)
promote the French franc as the money unit.
d)
make Europe more competitive in world markets.
2.
Which of the following is NOT true in regards to the EU?
a)
The EU government handles training of individual armies from different countries.
b)
There are no tariffs between EU countries.
c)
Citizens can live and work in any EU nation.
d)
The EU government handles trade issues between two EU nations.
3.
What is the currency of MOST EU countries?
a)
franc
b)
euro
c)
dollar
d)
pound
4.
In the United Kingdom, who makes the economic decisions?
a)
custom and habit
b)
government planners
c)
consumers and the market
d)
farmers
5.
Which European country's government owns most of the large and important industries within its borders?
a)
Germany
b)
Russia
c)
United Kingdom
d)
United States
6.
Which is LEAST likely to be found in Europe?
a)
capitalism
b)
market economy
c)
command economy
d)
traditional economy
7.
Which EUROPEAN country shown on the diagram has the LEAST free economy?
a)
Cuba
b)
Russia
c)
Germany
d)
United Kingdom
8.
Because most economies have characteristics of the command economy and the market economy, we say they are
a)
free.
b)
hybrid.
c)
mixed.
d)
communist.
9.
In which country would it be most difficult for a person to start a business?
a)
Russia
b)
Germany
c)
United Kingdom
d)
about the same for each
10.
Which European country would be the easiest to start and run your business without a lot of government interference?
a)
Germany
b)
Russia
c)
United Kingdom
d)
United States
11.
Which of these issues would make the United Kingdom a more desirable place to start a business?
a)
Russia's court system always protests the rights of property owners.
b)
The government in Russia owns most industries.
c)
It takes less time to start a business in Russia than the United Kingdom.
d)
Private citizens and corporations in the United Kingdom decide how goods will be produced.
12.
Which type of trade barrier involves a limit on goods brought into the country?
a)
quota
b)
tariff
c)
embargo
d)
voluntary exchange
13.
In order to help Russian farmers sell more food, some people want to put a tax on the food imported from other countries. This is an example of a(n)
a)
quota.
b)
tariff.
c)
embargo.
d)
voluntary exchange.
14.
Which might make an embargo against a country successful?
a)
Merchants are able to continue doing business as usual.
b)
People in the country are not affected by the embargo.
c)
The country does not need to trade with other countries.
d)
The citizens in the country suffer because of the embargo and demand a change from their government.
15.
What is the currency of Russia?
a)
euro
b)
ruble
c)
dollar
d)
pound
16.
Why is it important for nations to have a system to convert from one currency to another?
a)
Converting to different currencies makes a good cost less.
b)
Banks are not able to handle different kinds of currencies.
c)
The dollar is the most valuable currency in the world.
d)
This makes it possible to buy abd sell goods between nations with different types of money.
17.
Which is an example of investing in human capital?
a)
cash
b)
factories
c)
education
d)
highways
18.
A country that does not invest in human capital will have problems because
a)
there will be no money to pay its workers.
b)
workers will learn on their own the skills they need.
c)
businesses will not pay for good schools.
d)
workers who are not educated, skilled, and healthy are less productive.
19.
What is human capital?
a)
skills and education workers have
b)
taxes collected from a country's workers
c)
money paid to workers for producing goods
d)
the amount of goods sold in foreign trade in a year
20.
Which is an example of investing in physical capital by a company?
a)
constructing a new factory
b)
keeping an old delivery truck
c)
training workers to their jobs better
d)
keeping an old computer in order to save money
21.
The Soviet Union did not invest in capital improvements, so Russian workers today
a)
do not want to increase their standard of living.
b)
are not as productive as workers in other countries.
c)
work in brand new factories and are very productive.
d)
have shut down their factories until new ones are built.
22.
Which is an example of a natural resource?
a)
highways
b)
education
c)
forests
d)
automobiles
23.
which natural resources have helped the Rusian econmy in the 21st century?
a)
oil and natural gas
b)
highways and factories
c)
machines and equipment
d)
education and health care
24.
Why is a country better off it does not have to import natural resources?
a)
Other countries may need the resources.
b)
Buying from other countries costs more money.
c)
People in other countries don't want to sell their natural resources.
d)
Businesses have a hard time using the natural resources that are located nearby.
25.
What is a way that entrepreneurs help increase a country's GDP?
a)
writing laws to protect personal property
b)
creating businesses that give people jobs
c)
providing the ideas to start and expand businesses
d)
working to increase the amount of goods and services bought by a country
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