Chapter 11 Economics and Politics Study Questions
F When invading Iraq
, the Bush administration made clear its intention to change the economy Iraq from a free market to a centrally-planned system.
T F Iraq is situated in a region of the world that holds 90 percent of the world’s known oil reserves.
T F Many agricultural revolutions have taken place over the course of human history.
T F Socialist economic systems are governed by the laws of supply and demand.
T F Extreme dependence on a single commodity causes many problems including vulnerability to fluctuation in demand.
T F The United States runs a trade deficit with regard to services and trade surplus with regard to goods.
T F The primary sector of an economy involved extracting raw materials from the natural environment.
T F The source of a charismatic leader’s authority lies in the “goodness” of that leader’s vision.
T F The tools of the
power elite include weapons
, surveillance and specialized modes of communication.
T F Core economies are built upon a few key commodities.
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