Government and Economy of Europe

Question 1

What is the surest way to raise a country's Gross Domestic product?

Accepted Answer

raise literacy rate

Question 2

Which European economic system still lets the government decide many basic economic questions?

Accepted Answer

Russia

Question 3

Economic system where the government controls pretty much all goods and services

Accepted Answer

command

Question 4

Which of these are purposes of the European Union?

Accepted Answer

all of these

Question 5

Define democracy:

Accepted Answer

People participate by voting

Question 6

Which of these is a purpose of the European Union?

Accepted Answer

to encourage trade among European nations

Question 7

When a nation invests in in the education and develpment of its people it is investing in its:

Accepted Answer

human capital

Question 8

Common form of European government featuring a prime minister appointed by the legislature.

Accepted Answer

parliamentary democracy

Question 9

In which section would most European countries be ranked on the economic continuum shown?

Accepted Answer

B

Question 10

In what kind of government do people participate by voting?

Accepted Answer

democracy

Question 11

Who selects the Prime Minister in Britain's parliamentary system?

Accepted Answer

House of Commons

Question 12

How do German and Russian citizens participate in government?

Accepted Answer

voting in elections

Question 13

Which trade barrier completely stops trade between countries?

Accepted Answer

embargo

Question 14

In a parliamentary system, who is the head of government (not head of state)?

Accepted Answer

Prime Minister

Question 15

Which trade barrier would directly increase prices of foreign goods?

Accepted Answer

tariff

Question 16

What are the two most commom forms of democracy in Europe?

Accepted Answer

presidential and parliamentary

Question 17

What is a tax on goods imported from other nations called?

Accepted Answer

tariff

Question 18

Why is an exchange rate important for international trade>

Accepted Answer

countries have different currencies

Question 19

Which type of economy is the most common in Europe (e.g. Uk, France, Germany, Russia)?

Accepted Answer

mixed market

Question 20

Which type of economy features government control of production and pricing?

Accepted Answer

command

Question 21

How does increasing investment in human capital affect a nation's GDP

Accepted Answer

GDP rises due to better trained workers

Question 22

Which trade barriers limits the number of items that come into a country

Accepted Answer

quota

Question 23

Who picks the head of government in a parliamentary democracy?

Accepted Answer

legislature

Question 24

What does the chart show about the relationship between literacy and GDP?

Accepted Answer

high literacy equals high GDP

Question 25

What is the term for a person who has an idea for a good/service and takes risk to produce it?

Accepted Answer

entrepreneur

Question 26

define specialization

Accepted Answer

a focus on a specific skill of product to encourage trade

Question 27

economic systems where businesses decide what to produce and consumers decide what to buy

Accepted Answer

market

Government and Economy of Europe

Questions 27

Government and Economy of Europe

Questions 27