SW Asia (Economics)

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1 point

What is human capital?

taxes colled from a country's workers

skills and education workers have

money paid to workers for producing goods

the amount of gooods sold in foreign trade in a year

1 point

The Saudi government has encouraged the development of industries other than oil in an attempt to

raise money for the royal family

encourage entrepreneurship

strenghen the country's education system

make the Saudi economy more diverse

1 point

In this economic system, decisions are made by private citizens with no government regulation.

entrepreneur

human capital

traditional

market

1 point

This economic system is a blend of command and market systems.

mixed economy

traditional economy

command economy

natural resources

1 point

Israel has invested heavily in capital goods in all of the following areas EXCEPT

defense

oil

communication

farming and agriculture

1 point

A ban on trading with a particular country for economic or political reasons is _________.

Quota

tariff

embargo

GDP

1 point

What are capital good?

The workers who make the goods and services.

The factories and machines used to make goods.

The money spent to train workers to use new technology

The goods and services that are produced for a country's economy.

1 point

Producing those goods a country can make most easily so they can trade them for goods made by others that cannot be produced locally

specialization

GDP

capital goods

literacy rate

1 point

Someone who is willing to take a risk to begin a new business.

command

monarch

entrepreneur

tariff

10.

1 point

If a country does not invest in its human capital, how can it affect the country's gross domestic product (GDP)?

GDP may go down because poorly trained workers will not be able to do their jobs well.

Most workers want to keep their jobs ad do not care about GDP.

GDP is only affected if workers pay for the investment out of their own pocket.

Investment in human capital has little effect on a country's GDP.

11.

1 point

Saudi Arabia specializes in the production of

agricultural technologies

olive and orange

industrial technologies

oil and gas

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