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SS Test -Louis/Yahir

this friday

QuestionAnswer
1) What determines the answers to the basic economic questions in a mixed economy? Market forces and government interests
Utilize the passage to answer the question below. Zhang Wei farms the same land that his father farmed, and his grandfather before him. What type of economy does Zhang Wei live in? Traditional Economy
Country X encourages entrepreneurship It also creates strong laws that protect consumers from defective products and require businesses to avoid contaminating the environment. Mixed economy
In which type of economy does consumer preference play the GREATEST role in determining economic activity? Market economy
Nearly all countries in the world have a mixed economy, but a few countries have only recently adopted the idea. Which of these countries has recently begun restructuring its economy to better model a market economy? China
Which situation involved a tariff? China places a tax on automobiles imported from Japan.
In which Asian nation do the people play the GREATEST role in deciding who the rulers are and what decisions are made? South Korea
In which type of government do citizens directly elect the head of government in a general election? Presidential Democracy
What purpose do currency exchange rates serve? Exchange rates calculate the value of one country’s currency in terms of another.
Which situation involves an embargo? China suspends all trade with North Korea.
What is the key difference between presidential and parliamentary democracies? The separation of powers between the executive and legislative branches.
The North Korean government is run by a single individual who makes all decisions regarding governing. North Korea can BEST be characterized as which type of government? Autocracy
Based on the information in the table, what is a reasonable estimation of Japan’s GDP per capita? $38,900
The literacy rate in Japan is roughly 99%, while India’s literacy rate is 71.2%. What conclusion can be drawn based on this information? The average standard of living is lower in India.
Which country likely has the HIGHEST standard of living? A country with a high literacy rate.
Which country’s economic policies limit entrepreneurship the MOST? North Korea
Which country is a single-party state? China
Which Asian nation’s economy suffers because it cannot sell natural resources in world markets nor purchase the resources it lacks? North Korea, because of economic sanctions placed on the country.
What term best applies to the collective knowledge and skills of a country’s workforce? Human Capital
Which of these terms BEST describes the government structure in China? Oligarchy
Which of the following BEST describes the government of Japan? Parliamentary Democracy
India: Parliamentary Democracy:: South Korea : _______?________ Presidential Democracy
Created by: rwponton
 

 



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