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The Global Economy Quiz Flashcards | StudBud
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The Global Economy Quiz
The Global Economy Quiz
25 terms
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A quiz on HSC Topic One 'The Global Economy'.
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Read the following question.
Tariff revenue will increase
Tariff revenue will remain unchanged
Redistribution of income from importers to local producers
Redistribution of income from local producers to importers
2
Which of the following is an example of a monetary union?
EU
APEC
NAFTA
ASEAN
3
Read the following question.
Reduced traffic congestion around the existing airport
Reduced job opportunities around the second airport
Increased traffic congestion around the second airport
Increased job opportunities around the existing airport
4
What is the consequence of calling me Damo?
Suspension or expulsion
A lunchtime or after-school detention
A demerit
You gain my utmost respect
5
Which of the following is most likely to occur as a country becomes more economically developed
Agricultural production as a share of GDP increases
Reliance on foreign aid increases
Labour productivity increases
Education levels decrease
6
Which of the following could be a negative impact of FDI in an emerging economy?
Increase in the influence of TNCs on government regulation
An increase in the country's HDI from 0.6 to 0.8
Increased spending on transport infrastructure
Increase provision of public goods
7
Which of the following is most likely to increase a manufacturing firm's productivity?
An increase in investment in capital goods
Decrease in the size of the import quota for similar product
A decrease in demand by consumers for the firm's product
An increase in personal income tax rates
8
Which of the following is most likely to increase gross world product?
Increased rates by central banks
Increased migration to developing countries
Increase protection by advanced economies
Increased investment by TNCs in developing countries
9
Read the following question.
Increase in import quota, decrease in subsidies to Aus firms
Decrease in import quota, increase in subsidies to Aus firms
Decrease in import quota, decrease in subsidies to Aus firms
Increase in import quota, increase in subsidies to Aus firms
10
In which of the following circumstances could the IMF be called in to assist a country?
A foreign investment dispute
A trade dispute
An infrastructure funding shortage
A financial crisis
11
Read the following question.
The Organisation for Economic Cooperation and Development
The World Trade Organisation
The International Monetary Fund
The World Bank
12
Which indicators are used to calculate the Human Development Index (HDI)?
Population growth, infant mortality rate, malnutrition
Life expectancy, educational attainment, per capita GDP
Current account balance, infant mortality rate, education
Population growth, per capita GDP, life expectancy
13
Read the following question.
An increase in Australia's import quotas
An increase in Australia's recognition of IEQs
A decrease in Australia's regulation of TNCs
A decrease in Australia's level of protection
14
Read the following question.
Equilibrium price rises, equilibrium quantity falls
Equilibrium price rises, equilibrium quantity rises
Equilibrium price falls, equilibrium quantity rises
Equilibrium price falls, equilibrium quantity rises
15
What is the common reason given for a country to increase tariff protection?
To maintain domestic employment
To reduce the rate of domestic inflation
To increase trade volumes
To lower the level of domestic interest rates
16
Read the following question.
Public institutions more developed in Country A than B
Population growth rate in Country A higher than Country B
Adult literacy rates are higher in Country A than Country B
Level of urbanisation is greater in Country A than Country B
17
Which of the following is most likely to slow the process of globalisation?
An increase in the world price of oil
Higher labour mobility
A reduction in export subsidies by advanced economies
Lower costs of communication
18
Read the following question.
A negative externality and an increase in social benefits
A negative externality and an increase in social costs
A positive externality and a reduction in social benefits
A positive externality and a reduction in social costs
19
Of which of the following is Australia a member?
The Group of 20 (G20)
The Group of 8 (G8)
The Association of South-East Asian Nations (ASEAN)
The North American Free Trade Agreement (NAFTA)
20
Read the following question.
Domestic price of cars would increase
Market share of domestic producers would decline
Difficulty for foreign producers to access domestic market
Supply of cars in the domestic market would decrease
21
Which of the following statements best applies to public goods?
Consumers must pay to use these goods
There are fixed supplies of these goods
Consumers can access these goods without paying for them
These goods are subject to over-pricing
22
Read the following question.
Consumer spending rises, household savings rate rises
Consumer spending rises, household savings rate falls
Consumer spending falls, household saving rate falls
Consumer spending falls, household savings rate rises
23
Why might a government adopt protectionism?
To encourage more efficient management practices
To promote competition in particular industries
To gain access to new and improved technology
To preserve local jobs in particular industries
24
Which country has the most TNCs within the global economy?
Japan
Germany
France
USA
25
Which of the following is a trading bloc?
European Union (EU)
General Agreement on Tariffs and Trade (GATT)
Organisation for Economic Cooperation and Development (OPEC)
World Trade Organisation (WTO)
