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US & Canada Economy Overview Flashcards | StudBud
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US & Canada Economy Overview
US & Canada Economy Overview
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Classroom overview of the reading on the economy of US & Canada.
Flashcards
16 cards
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Questions
16
Answers
1
Which of the following factors helps the US & Canada have a strong economy?
Divided Government
strong Infrastructure
Job loss
War
2
How is the price of items determined in a capitalist economy?
A complicated formula created by Bill Gates
What people are willing to pay
The government sets the price
The cost of all the materials to make it multiplied by 2
3
What type of industry would benefit from Canada's large forests?
Financial
automobile
Timber
Tourism
4
Which of the following agencies is controlled by the government in both the US & Canada?
Factories
Utility companies
Post Office
Mining and forestry
5
What is the largest part of Canada's economy?
Natural Resources
Manufacturing
Service
Government
6
What type of manufacturing dominates the industrial sector of the US economy?
computers, iphones
cars, trucks, planes
clothes, shoes
movies & video games
7
What does it mean to have a capitalist government?
the king or queen sets the prices
The people have no choice in the cost of products
most business is run by private people
the government runs the businesses
8
What types of services dominate Canada's economy?
Fishing & Farming
Automobile & Computer Factories
Banking & Tourism
Lumber Mills & Coal Mines
9
Which economic sector makes up 80% of the US economy?
Natural Resources
Service
Manufacturing
Government
10
What type of economy does the USA & Canada have?
Communist
Traditional
Closed
Capitalist
11
What type of energy resources does Canada depend on?
Wind & Uranium
Solar & Wind
Hydroelectric & Thermal
Petroleum & Hydroelectric
12
What of the following makes up the United States largest energy production?
Wind
Petroleum
Hydroelectric
Solar
13
Which country has the highest Gross Domestic Product in the world?
United States
China
India
Canada
14
Where does the money come from for the governments to support military, education, etc?
Other countries
Taxes
Banks
National Mint
15
Why does the USA have to import a lot of petroleum products?
The Petroleum produced in the USA is contaminated
It is cheaper to import it than make it ourselves
USA is one of the largest consumers of energy in the world
There is none in the USA
16
Both the US & Canada have been ranked in the top 10 in the world by researchers in which area?
prison systems
economic freedom
political leaders
natural resource exportation
