Which of these statements best describes a mixed economy?(1 point)

Responses

A. In Israel, the government plays a smaller role in the economy allowing for tech start up companies to thrive.
A. In Israel, the government plays a smaller role in the economy allowing for tech start up companies to thrive.

B. In Iran and Saudi Arabia, oil companies are government owned and operated.
B. In Iran and Saudi Arabia, oil companies are government owned and operated.

C. In remote parts of Southwest Asia, some people participate in an economy determined by custom and habit.
C. In remote parts of Southwest Asia, some people participate in an economy determined by custom and habit.

D. Turkey's economy was held back in the past by trade barriers in order to protect Turkish products.

D. Turkey's economy was held back in the past by trade barriers in order to protect Turkish products.

Which of the following best describes the primary function of the Organization of Petroleum Exporting Countries (OPEC)?(1 point)

Responses

A To regulate global oil prices and ensure stable supply
A To regulate global oil prices and ensure stable supply

B To promote renewable energy sources and reduce fossil fuel consumption
B To promote renewable energy sources and reduce fossil fuel consumption

C To facilitate international cooperation on environmental conservation
C To facilitate international cooperation on environmental conservation

D To standardize oil extraction techniques for member countries

A. To regulate global oil prices and ensure stable supply

Select the two reasons that describe why trade is essential in Saudi Arabia?(2 points)

Responses

A. Because Saudi Arabia is surrounded by ocean on all sides.
A. Because Saudi Arabia is surrounded by ocean on all sides.

B. Because Saudi Arabia specialized in oil refinery but does not grow enough of its own food.
B. Because Saudi Arabia specialized in oil refinery but does not grow enough of its own food.

C. Because Saudi Arabia is centrally located in the region.
C. Because Saudi Arabia is centrally located in the region.

D. Because Saudi Arabia is mostly desert.

B. Because Saudi Arabia specializes in oil refinery but does not grow enough of its own food.

D. Because Saudi Arabia is mostly desert.

Why does trade between countries require a process for exchanging different currencies?(1 point)

Responses

A Because most countries have their own forms of money.
A Because most countries have their own forms of money.

B Because those buying goods on the international market only accept gold and silver.
B Because those buying goods on the international market only accept gold and silver.

C Because the Euro is accepted in all Southwest Asian countries.
C Because the Euro is accepted in all Southwest Asian countries.

D This keeps currency values fixed and allows for steady economic growth.

A. Because most countries have their own forms of money.

How MIGHT a war with a country that is a member of OPEC impact citizens living in the United States?(1 point)

Responses

A Gas prices may increase due to a rise in price of crude oil.
A Gas prices may increase due to a rise in price of crude oil.

B Pharmaceutical exports dip as a result of increased tensions.
B Pharmaceutical exports dip as a result of increased tensions.

C The sale of foreign cars decreases due to an increase in tariffs.
C The sale of foreign cars decreases due to an increase in tariffs.

D The automobile industry suffers due to a decrease in auto part exports.

A. Gas prices may increase due to a rise in the price of crude oil.

Because Israel has few natural resources of its own, Israel must sustain it's economy via trade. What has Israel pivoted to in an effort to grow the economy?(1 point)ResponsesA. Investment in farming ExportsA. Investment in farming ExportsB. Investment in oil ExportsB. Investment in oil ExportsC. Investment in high-tech entrepreneurshipC. Investment in high-tech entrepreneurshipD. Investment in fishing exports