Government and Economics of Canada

Question 1

What does Canada specialize in?

Accepted Answer

All of the above

Question 2

Which of the following is NOT a major natural resource found in Canada?

Accepted Answer

Coffee beans

Question 3

Which of the following would most likely raise a country's GDP?

Accepted Answer

All of the above

Question 4

The chief executive of the Canadian government (with the most political power) is the…

Accepted Answer

Prime Minister

Question 5

Based on Canada's location on the economic continuum, it can best be described as:

Accepted Answer

Market-leaning

Question 6

In a traditional economy, how are economic decisions made?

Accepted Answer

Customs and beliefs

Question 7

The Inuit of northern Canada typically use which type of economic system?

Accepted Answer

Traditional

Question 8

When a country invests in new machinery, technology, and factories, it is increasing its:

Accepted Answer

Capital goods

Question 9

A leader who represents the country at ceremonial events but typically holds very little real power is called the __

Accepted Answer

Governor-General

Question 10

All of the following describe Canada’s government EXCEPT:

Accepted Answer

Autocracy

Question 11

Who selects the prime minister of Canada?

Accepted Answer

Citizens elect members of Parliament, then governor-general picks

Question 12

Which country is Canada’s largest trading partner?

Accepted Answer

United States

Question 13

Which of the following is an aspect of Market economic systems?

Accepted Answer

Prices are based on supply and demand.

Question 14

In Canada, the political party with the largest number of members in the ____________________ picks the chief executive.

Accepted Answer

House of Commons

Question 15

Canada's economy can best be represented by which letter on the graph?

Accepted Answer

Letter C

Question 16

Which of the following is an aspect of Command economic systems?

Accepted Answer

The government decides what will be produced.

Question 17

Canada gained independence from the UK, but King Charles III is still the head of state for Canada. What is this?

Accepted Answer

Constitutional monarchy

Question 18

Canada's GDP per capita is about $45,000 while Cuba's is about $11,000. Who probably has the higher standard of living?

Accepted Answer

Canada

Question 19

The relationship between the literacy rate and standard of living in Canada is _________.

Accepted Answer

The higher the literacy rate the higher the standard of living.

Question 20

Canada invests 6 percent of its GDP into education for its citizens—which productive resource is this an example of?

Accepted Answer

Human capital

Question 21

Which country's leader is NOT part of the legislative branch?

Accepted Answer

United States

Question 22

In a Market economy, who owns all of the land, resources, and businesses?

Accepted Answer

Consumers and private businesses

Question 23

What role does Canada's government play in its economy?

Accepted Answer

Government has a very limited role with few regulations (healthcare).

Question 24

One way that Canada's government is different from the US government is that Canada...

Accepted Answer

Has a monarch (king or queen) as head of state

Question 25

Overall, starting a new business in Canada is ______________ than the world average.

Accepted Answer

Easier

Question 26

Which pair of countries have governments that are most similar?

Accepted Answer

Canada and the United Kingdom

Question 27

Who can vote in Canada’s elections?

Accepted Answer

Only people age 18 and up (not required by law)

Question 28

Which statement accurately describes Canada's economic system?

Accepted Answer

A mix of Market and Command

Question 29

What makes trading currency between different countries fair?

Accepted Answer

Exchange rates

Question 30

Which of the following is NOT a question that every country must answer when determining its economic system?

Accepted Answer

How much to produce?

Government and Economics of Canada

Questions 30

Government and Economics of Canada

Questions 30