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Australia Unit 9
Australia Unit 9
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1
Which statement BEST reflects the difference between tariffs and quotas?
Tariffs raise prices on exports, while quotas set limits on exports.
Tariffs set limits on exports, while quotas raise prices on imports.
Tariffs set limits on imports, while quotas raise prices on exports.
Tariffs raise prices on imports, while quotas set limits on imports.
2
Which number is closest to the location of the Great Barrier Reef?
1
3
4
2
3
· Decentralized decision making. · Producers and consumers have control of the economy
socialist
market
traditional
command
4
To BEST improve Australia's economy, which of these export industries should receive the most monetary investment?
agriculture
manufacturing
mining
energy
5
An exchange rate is used to
price of one country's imports in terms of another country's imports.
promote the use of subsidies on foreign goods.
promote the argument supporting free trade.
price of one country's currency in terms of another country's currency.
6
Yearly, Australia wages a strong campaign to attract international tourism. International tourism DIRECTLY benefits
the geography of Australia.
the economy of Australia.
the culture of Australia.
the exploration of Australia.
7
Land, labor, capital, and entrepreneurship are
factors of production.
the results of production.
results of supply and demand.
the basis of employment.
8
Australia &other nations of Oceania recognize that, due2 their location, their economic success is STRONGLY linked 2
European nations.
South American nations.
African nations.
Asian nations.
9
Where would you find the Great Barrier Reef?
B
D
C
A
10
All of these restrict international trade EXCEPT
embargoes.
subsidies.
quotas.
trade deficits.
11
This is a photograph of Ayers Rock, located in what country?
South Africa
New Zealand
Kenya
Australia
12
Historically, the Australian Dollar was pegged, or "linked," to the currency of
the United States.
Historically, Australian Dollar pegged, "linked," to the currency of
Canada.
New Zealand.
13
Who makes the economic decisions in a market economy?
a central economic planning committee.
their legislative branch of government.
the producers and consumers of products.
their executive branch of government.
14
Which of these is marking the Coral Sea?
D
B
A
C
15
Australia has increased its role in international trade Which of these actions would have helped to achieve this result?
focusing only on importing
raising domestic taxes
reducing barriers to trade
becoming politically liberal
16
Australia's economy can BEST be classified as a
market economy.
command economy.
mixed economy.
traditional economy.
17
Which of these best describes a trade tariff?
a tax imposed upon all imported goods and services
a prohibition of trade with a country or a group of countries
a government restriction on the amount of imported goods or services
an agreement between countries to trade specific commodities
18
International trade is exchange of goods and services between countries. This sometimes involves the use of quotas.
the refusal to export some goods
a payment to encourage trade
a tax on an imported good
an amount that can legally be imported
19
In this type of economic system, the government controls all aspects of the economy and makes all decisions
mixed
market
command
communism
20
Which of these is TRUE about specialization in an economy?
The government decides who can exchange goods.
Companies force people to participate in the economy.
People make the goods that other people want.
Leaders require a certain number of exchanges per day.
21
Which of these BEST describes an investment in human capital?
improving access to public libraries
expanding free-trade agreements
decreasing sales taxes
limiting on-the-job training
22
This satellite image is of what geographic feature?
The Australian Steppe
The Kalahari Destert
The Great Barrier Reef
The Great Victoria Desert
23
Using this chart, you can conclude that in Australia's economy
the national government owns most of the land resources.
buyers and sellers determine what goods are made.
the provincial governments own most of the capital resources.
private property is rationed out according to need.
24
How might specialization encourage trade?
work together as a team to make it easiy
Nations stop using products from other nations 2 support their economies.
One nation will sell its specialty to others ONLY if they don't compet
focus resources on its specialty,
25
What conclusion can be made based on this map?
Australia must import all of its food.
Most iron ore is found in the west.
Mineral resources are only found along the coast.
Gold is not a valuable mineral resource.
