Some examples from this set of practice questions
1.
What is Gross Domestic Product (GDP)?
Answer: monetary value of all finished goods within a country’s boarder
2.
What is Gross National Income (GNI)?
Answer: The monetary value of all finished goods within a country’s boarder, measured per capita. This includes income from other countries
3.
What is Purchase Power Parody? (PPP)
Answer: PPP is Gross National Income adjusted for cost of living
4.
What is the Human Development Index? (HDI)
Answer: HDI is how well people are living statistically. This is a combination of life expectancy, education, and the ability to provide for basic needs
5.
What is the GINI Index?
Answer: The GINI index is the measure of the distribution of wealth. It shows what percentage of the population has what percentage of the money. This is measured by a coefficient 0-1.
Some examples from this set of practice questions
1.
What is Socialism?
Answer: Socialism is the public ownership of the means of production for the common good of society. State ownership of the basic means of production, distribution, and exchange. State manages enterprises to benefit society as a whole.
2.
What is Communism?
Answer: Communism is a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.
3.
What is Individualism?
Answer: Individualism is when individual freedoms are help over economic and political pursuits
4.
What is democracy?
Answer: Democracy is a form of government in which the common people vote on every law
5.
What is Totalitarianism?
Answer: Totalitarianism is when one person/party exercises absolute rule over the government and opposing parties are prohibited
Some examples from this set of practice questions
1.
What is a righteous moralist?
Answer: Someone who only believes what their home country does is moral or thinks home country laws are superior
2.
What is a naive immoralist?
Answer: Someone who believes is someone else is doing something (something arguably immoral) it is okay because someone else is doing it too.
3.
What is Utilitarianism?
Answer: A moral principle that gives the greatest good for the greatest amount of people
4.
What is Kantian Ethics?
Answer: A universal moral principles applied to all human beings regardless of context or situation
5.
What is the Friedman Doctrine?
Answer: A belief that the responsibility of a company is to increase profits to return increased revenue to shareholders
Some examples from this set of practice questions
1.
What is Free Trade?
Answer: A situation where a government does not attempt to restrict what its citizens can buy from another country or what they can sell to another country
2.
What are Tariffs?
Answer: A tax levied on import that effectively raises the cost of imported products relative to domestic products
3.
What are Subsidies?
Answer: A government payment to a domestic producer
4.
What are Import Quotas?
Answer: A direct restriction on the quantity of some good that may be imported into a country
5.
What are Voluntary export restraints? (VER)
Answer: A quota on trade imposed by the exporting country, typically at the requestion of the importing country’s government
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