Modern Economics in a Global Age Quiz

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  • 1/10 Questions

    Exporting is the act of

    • Selling goods from a third party
    • Sending goods to another country
    • Bringing in goods from another country
    • Selling goods at less than cost
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About This Quiz

Do you understand the modern economy? Take this quiz on modern economics in a global age to test your basic knowledge. This is a quiz that comprises some basic and easy questions about today's economic world. If you understand it well, you must take this quiz and find out how much you know. You can try for a perfect score on this quiz. All the best! This quiz will not only test your knowledge but will enhance it also. Do not forget to share the quiz with others.

Modern Economics In A Global Age Quiz - Quiz

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  • 2. 

    What is defined as the bringing in of foreign goods?

    • Importing

    • Exporting

    • Capital flight

    • Tariff reduction

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  • 3. 

    What does it mean to change ownership from government or public to private?

    • Nationalize

    • Privatize

    • Globalize

    • Localize

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  • 4. 

    An economic system that has elements of all economies and is the most common type of economic system.

    • Traditional

    • Command

    • Market

    • Mixed

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  • 5. 

    Which of the following is the benefit of the global economy?

    • Inexpensive communication 

    • Foreign Exchange

    • Safer transport 

    • All of the above

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  • 6. 

    What does it mean to change ownership from private to government or public?

    • Localize

    • Globalize

    • Nationalize

    • Privatize

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  • 7. 

    The global economy is all the economic interactions that cross __________.

    • Local boundaries

    • National boundaries

    •  international boundaries

    • None of the above

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  • 8. 

    What type of economy is the United States of America?

    • Traditional

    • Command

    • Mixed

    • All of the above

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  • 9. 

    How to calculate the share of the economy that is consumed by the government?

    • Government consumption/total economy

    • Total economy + government consumption

    • Total economy x government consumption

    • Total economy / government consumption

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  • 10. 

    Which of the following is not a part of a mixed economy?

    • Market

    • Private

    • Traditional

    • Controlled

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Quiz Review Timeline (Updated): Aug 16, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Aug 16, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Dec 06, 2022
    Quiz Created by
    Sophia Smith
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