05.08 Module Five Exam (Economics)

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The U.S. government wants to restrict Nation A’s access to weapons-making materials. Which of the following actions will it most likely take?

Institute an embargo on trade in certain items with Nation A

Which of the following economic goals focuses on ensuring citizens’ well-being even in a crisis?


A nation has a high Human Development Index and a high gross domestic product. Which of the following factors might result in classification of the nation as developing rather than developed?

A command economy

Look at the map showing the European Union (EU) and its free-trade agreement (FTA) countries. Which of the following is true of most of the negotiating countries?

They have access to the ocean.

The United States can manufacture books at a much more rapid pace than manufacturers in Indonesia. Which of the following is a reason?

Indonesia, as a developing country, has a less advanced manufacturing infrastructure.

If the Consumer Price Index rises then

inflation is occurring

The governments of the United States, Mexico, and Canada created the North American Free Trade Agreement in order to

remove barriers to trading products between the three countries

The smallest, most local type of economy is a

traditional economy

Which of the following describes a developing nation?

A traditional economy with a low Human Development Index

Adam Smith would most likely oppose a plan for

government bailouts for failing corporations

International officials and business leaders have gathered to discuss free-trade policies. Outside their summit, protesters shout, "People before profit." These activists most likely align with which economic theory?

Karl Marx’s collapse of capitalism

Which of these would result from high inflation in the United States?

Americans would demand higher wages.

High inflation in the United States would most likely have

a negative impact on the U.S. dollar exchange rate

If the inflation rate increases faster than their income, people will most likely

use a higher proportion of their incomes on basic needs

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