IMG_0889.jpeg

## Multiple Choice Questions 1. The money or market value of all goods and services produced in the economy in a year's time. * a. Economic growth * b. Gross domestic product * c. Economic development * d. GDP per capita * e. None of the above 2. According to classi...

## Multiple Choice Questions 1. The money or market value of all goods and services produced in the economy in a year's time. * a. Economic growth * b. Gross domestic product * c. Economic development * d. GDP per capita * e. None of the above 2. According to classical economic liberalism, free trade leads to... * a. Stagflation * b. Unemployment * c. Inflation * d. Peace and security among states * e. Trade wars among states 3. According to John Stuart Mill, free markets lead to... * a. Inflation * b. Stagflation * c. Unemployment * d. Income inequality * e. Underemployment 4. To correct a deficit in its trade with other countries, a country needs to... * a. Decrease its exports and increase its imports * b. Increase its imports * c. Decrease its exports * d. Decrease both imports and exports * e. Increase its exports and decrease its imports 5. In January 1933, Adolf Hitler became the German Chancellor. He wanted to make Germany great again; Germany was defeated and humiliated in WW1. To achieve his goal, Hitler invaded and occupied several European countries. These invasions led to the outbreak of WW2. In June 1941, his military attacked the Soviet Union. In 1943, the Soviet military began a major counterattack that eventually led to the defeat of Germany and the death of Hitler. As a result of WW2, about 60 million people died around the world. The levels of analysis in this case are: * a. Global and domestic only * b. Interstate, global, and domestic only * c. Domestic, individual, inter-state, and global * d. Domestic and individual only * e. Inter-state, individual, and domestic only