Economics Review

Question 1

Hong Kong's Continuum score would be

Accepted Answer

88% Market 12% Command

Question 2

Countries that have more Government interaction than China

Accepted Answer

North Korea, Cuba

Question 3

The US stopped trade with Germany because we did not like Hitler taking over countries, this is a

Accepted Answer

Embargo

Question 4

If a country produces what its good at and buys the rest, this is

Accepted Answer

Specialization

Question 5

Mr. Crowe and 5 of his friends use force to take over Mexico and rule the country.

Accepted Answer

Oligarchy

Question 6

Where would the US fall on the continuum?

Accepted Answer

75% Market 25% Command

Question 7

Germany limits its imported tennis rackets to 100,000.

Accepted Answer

Quota

Question 8

Investing is

Accepted Answer

Spending money to benefit you later

Question 9

Japan raises the price of coffee from Costa Rica by 3 dollars a pound

Accepted Answer

Tariff, Natural Trade Barriers

Question 10

What country has the most government interference but is a Market economy

Accepted Answer

France

Question 11

When should you use a credit card

Accepted Answer

In an emergency, like a broken down car

Question 12

Money you make from working a job

Accepted Answer

all of the above

Question 13

22. In a Parliament, who chooses the Prime Minister?

Accepted Answer

The Legislature

Question 14

Using a credit card is the same as

Accepted Answer

Getting a small loan

Question 15

Personal Finance is

Accepted Answer

All of the above

Question 16

Which country has the most free economic system

Accepted Answer

Hong Kong

Question 17

What is a disadvantage of using cash

Accepted Answer

It can be lost or stolen

Question 18

The US can't get goods to Canada because of a blizzard. What is this an example of.

Accepted Answer

Natural Trade barrier

Question 19

Of the Command economies, which is the most Market

Accepted Answer

Russia

Question 20

Countries add Tariffs to imported goods to

Accepted Answer

All of the above

Question 21

An expense that you pay monthly that stays the same.

Accepted Answer

Fixed expense

Question 22

Mr. Crowe grades papers faster than Mr. O'Rourke and Mr. O'Rourke creates Tests quicker.

Accepted Answer

They should both do the task they do best

Question 23

Which is an example of Government oversight in a market economy

Accepted Answer

NCLC Creating Child labor laws, The FDA testing cancer drugs for side effects

Question 24

The United States can't produce all the oil it needs.

Accepted Answer

It trades with other countries to get the oil it desires

Question 25

Stalin ruled the USSR

Accepted Answer

Autocracy

Economics Review

Questions 25

Economics Review

Questions 25