Europe Economics Quiz

Imposing a tax on an imported good is a

• trade barrier

• trade surplus

• trade deficit

• trade incentive

The knowledge, skills, and relative health of a nation's labor force is...

• Capital Goods

• Human Capital

• Specialization

• allocation

In a traditional economy, the decision to make certain products is decided by...

• Producers

• Government

• Entrepreneurs

• Customs

What type of economy does the UK, Germany, and Russia have?

• Command

• Traditional

• Market

• Communist

What was created to make trade easier?

• European Union

• United Nations

• European Countries

• North Atlantic Treaty Organization

An increase in education will most likely lead to an increase in....

• An increase in GDP

• A decrease in GDP

• An increase in currency

• A decrease in entrepreneurship

How has the European Union helped the economies of Europe? (more than 1 answer)

• Eliminating trade barriers

• Not trading with other countries

• making travel easier

• Having a common currency

What is the currency of the European Union?

• Yen

• Peso

• Euro

• Gyro

A scarcity of ____________ would cause skyscrapers to be built.

• Human Resources

• Entrepreneurship

• Natural resources

• Capital resources

What is a quota?

• Tax on an imported good

• Tax on an exported good

• Limit on an exported good

• Limit on an imported good