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Europe Gov./Econ

European Government and Economics Test Study Cards

QuestionAnswer
If you lived in the communist Soviet Union, what type of economic system did you live under? command
What are the three questions economic systems answer? What to produce, how to produce, for whom to produce
How did Russia's economy change at the end of Cold War? moved closer to a market economy
What type of economic system is very competitive and set by supply and demand? market
What is the relationship between standard of living and literacy rate? The higher the literacy rate, the higher the standard of living
What is a tariff? a tax on an imported good
How did Russia's government change after the Cold War?? went from an autocracy to a democracy
What is an example of human capital? people and education
Both governments and private businesses make economic decisions in what type of economic system? mixed
If France does 2/3 of its trade with countries in the Euro zone, what can you infer? It does most of its trade with countries that use the Euro
What is the title of Germany's head of government? chancellor
The UK, Germany and Russia, all have what type of economic system? mixed
The UK has Prime minister. What type of democracy does the UK have? parliamentary
How are economic decisions made in a traditional economy? by customs and beliefs
Who makes the decisions in a command economy? government
Was the command economy successful in the Soviet Union? No, the Soviet Union's collapse proved the command systems do not work
How are the governments of UK, Germany, and Russia similar? democracies
Which title would you find in both Germany and Russia? President
What is the name of the economic community in Eruope that has free trade and a common currency? European Union
Most democracies have what type of economy? Mixed
If a country invests in new technology and factories, what are they spending money on? Capital goods
Who has the power in an autocracy? one person that is a dictator
A mountain is an example of what type of trade barrier? physical trade barrier
Quotas, embargoes, blockades, and tariffs are what kind of trade barrier? economic trade barrier
Most countries in the EU use what currency to make trade easier with each other? Euro
How is the head of government elected in a presidential democracy? By the citizens
What type of democracy can be found in the United Kingdom? Parliamentary
How are the governments of the UK and Germany similar? Both are parliamentary
Who elects the head of government in a parliamentary democracy? legislative body (parliament)
Created by: mgilmour