Basic Government and Economy Review

Has characteristics of both market and command economic systems

Which of the following is NOT a factor that influences economic growth?

Oil, farmland, clean water, and gold are all examples of capital resources

When a country invests in its human capital, the GDP is 

Parliamentary and Presidential governments both...

Economic decisions are made by businesses and consumers ONLY

What happens to the price of a good when supply goes down?

A limit to the number or amount of a foreign-produced good that is allowed into the country

Because the U.S. wants GDP to increase, they invest in public education for all people. What is this an example of?

Who takes on the financial risk in starting a new business in a market economy?

Why do most economies operate between a market and a command?

Stopping trade with a particular country for economic or political reasons

Specialization is when a country focuses on production of one or a few items.

Buying new machines and technology is an example of human capital which decreases GDP.

When a country does not invest in capital resources, the GDP is 

An example of a democracy restricting trade is voting to increase tariffs on imports

The total value of all goods and services produced within a country in a single year

This branch of government is responsible for choosing the leader in a parliamentary democracy

A tax placed on good coming into a country

An autocracy is closest to which type of economy?

Most economic decisions made are based on custom and how things have been done in the past

If two countries removed trade barriers with each other, their economies would grow

Why is it important for nations to have a system to convert from one currency to another?

What is the best college football team in the world?