What does "specialization" mean?

when ppl work in jobs where they produce a few special goods

Which statement best supports the role of the government in the U.S. economy?

It provides public services to further the common good

Which is a drawback of treaties such as the North American Free Trade Agreement (NAFTA)?

job loss in domestic industries

How are conducting diplomacy and conducting trade similar?

They are both tools of foreign policy.

Which is central to the operations of a command economy?

the allocation decisions of the government

"Build a New Stability in the Middle East and North Africa" -How can the US achieve this?

by providing support for peace between hostile nations

Which form of competition drives production decisions in a market-based economy?

competition between businesses to make money

Which issue would most likely be addressed by foreign policy?

a nation consuming more energy than it produces

Russia prevents problems resulting from foreign competition.

What would the U.S. do for the bill "Water for the World Act of 2014"?

form agreements with other nations to reduce pollution

US trades cars in Canada without worrying about tariffs.

If the US imposes a trade embargo on Iran, which statement explains why the US would do that?

The US objects to the way Iran treats its citizens.

Country M exports large amounts of food crops and imports most goods that its citizens purchase

doesn't have to rely on trade to ensure citizens have food

A company in Colombia pay coffee farmers a living wage

During difficult times, a supporter of the NRA would want...?

Gov't to play an active role in stimulating economic growth

Which is central to the operations of a market-based economy?

the basic laws of supply and demand

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Global Trade and Trade Policy Review

24 termsStudBud Administration19 plays

Final Gov't review

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Questions 24

Answers

1
Which is an example of private property?
a cemetery for veterans
an idea for a movie script
a government-run library
an area for music in a city park
2
What does "specialization" mean?
having more than you want or need
when ppl work in jobs where they produce a few special goods
not having everything you want because of limited resources
something one person does for someone else
3
Which statement best supports the role of the government in the U.S. economy?
It provides public services to further the common good
It enforces contracts to promote market stability
It redistributes wealth to increase business opportunities
It passes laws to protect private property
4
Which is the best example of specialization?
general assistant
brain surgeon
Walmart employee
handyman who fixes various house problems
5
Which is NOT a type of economic barrier?
Embargo
Quota
Common Currency
Tariff
6
Which is a drawback of treaties such as the North American Free Trade Agreement (NAFTA)?
higher wages for low-skill workers
reduced innovation among entrepreneurs
increased safety regulations
job loss in domestic industries
7
How are conducting diplomacy and conducting trade similar?
They are both techniques of cybersecurity.
They are both ways to better equip the military.
They are both tools of foreign policy.
They are both strategies to combat terrorism.
8
What type of organization is the North Atlantic Treaty Organization (NATO)?
a military alliance
a humanitarian agency
a trading partnership
a global bank
9
The 3 fundamental economic questions are: What to produce? How to produce? And...?
Where to produce
How much to produce
When to produce
For whom to produce
10
Which is central to the operations of a command economy?
the labor force and natural resources of the country
the productivity of subsistence farmers
the basic laws of supply and demand
the allocation decisions of the government
11
"Build a New Stability in the Middle East and North Africa" -How can the US achieve this?
by funding political cand. able to restore unstable states
by building domestic support for trade with friendly nations
by providing support for peace between hostile nations
by deploying soldiers to defend peaceful areas from invasion
12
Which form of competition drives production decisions in a market-based economy?
competition between businesses to make money
competition among consumers to buy goods
competition between governments for territory
competition among producers for natural resources
13
Which issue would most likely be addressed by foreign policy?
a nation consuming more energy than it produces
lakes becoming increasingly polluted
large numbers of workers having outdated skills
citizens demanding more health care than is available
14
protectionism is?
Companies in Colombia pay coffee farmers a living wage
Russia prevents problems resulting from foreign competition.
The US trades cars in Canada without worrying about tariffs.
15
What would the U.S. do for the bill "Water for the World Act of 2014"?
introduce trade sanctions against states that violate rights
finance projects that include bridge construction
form agreements with other nations to reduce pollution
allocate funds to nations that lack hospital facilities
16
Which is NOT a benefit of trade?
larger markets
increased production efficiency
natural resource conservation
job growth
17
free trade is?
Russia prevents problems resulting from foreign competition.
Companies in Colombia pay coffee farmers a living wage
US trades cars in Canada without worrying about tariffs.
18
If the US imposes a trade embargo on Iran, which statement explains why the US would do that?
Iran wants to prevent jobs from shifting to the US
Iran has an abundant supply of resources the US uses
The US objects to the way Iran treats its citizens.
The United States exports more to Iran than it imports.
19
Country M exports large amounts of food crops and imports most goods that its citizens purchase
doesn't have to rely on trade to ensure citizens have food
Workers in M earn more $$ than if they worked in factories
Gov't of M is able to charge high tariffs on imported goods
ppl in M can buy goods that are cheaper but higher quality
20
Fair trade is?
Russia prevents problems resulting from foreign competition.
US trades cars in Canada without worrying about tariffs.
A company in Colombia pay coffee farmers a living wage
21
During difficult times, a supporter of the NRA would want...?
American people reliance on gov for health care and income
Gov't to play an active role in stimulating economic growth
the govt to take a laissez-faire approach to the economy
The American people to make consumer-related decisions
22
Which is central to the operations of a market-based economy?
the basic laws of supply and demand
the productivity of subsistence farmers
the allocation decisions of the government
the labor force and natural resources of the country
23
Read the excerpt below. Why would the Secretary of Defense most likely support this statement?
to protect national security
to promote arms control
to protect human rights
to promote democratic practices
24
military, intel. collection, diplo. pressure, are most often used in which foreign policy goal?
protecting national security
maintaining economic stability
spreading democratic principles
supporting humanitarian causes

Global Trade and Trade Policy Review Flashcards | StudBud