#1
Which country implemented the New Economic Policy (NEP) in the early 1920s?
United States
Germany
Russia (Soviet Union)
China
#2
Which agreement aimed to promote international trade by reducing tariffs and trade barriers?
Marshall Plan
North American Free Trade Agreement (NAFTA)
General Agreement on Tariffs and Trade (GATT)
European Union (EU) Treaty
#3
Who is known for developing the theory of comparative advantage in economics?
Adam Smith
John Maynard Keynes
David Ricardo
Milton Friedman
#4
What was the primary goal of the Marshall Plan?
To rebuild Western Europe after World War II
To establish a military alliance against the Soviet Union
To facilitate the industrialization of developing countries
To promote economic cooperation between North American countries
#5
Who developed the concept of the 'Laffer Curve'?
John Maynard Keynes
Milton Friedman
Arthur Laffer
Adam Smith
#6
Which country experienced the 'Lost Decade' in the 1990s due to economic stagnation?
United States
China
Japan
Germany
#7
Which economic event marked the beginning of the Great Depression in the United States?
The Stock Market Crash of 1929
The passage of the Smoot-Hawley Tariff Act
The collapse of major banks
The Dust Bowl
#8
Who was the Prime Minister of the United Kingdom during the implementation of Thatcherism?
Winston Churchill
Margaret Thatcher
Tony Blair
Neville Chamberlain
#9
Which economic theory advocates for the government's minimal intervention in the economy?
Keynesian economics
Monetarism
Austrian economics
Neoclassical economics
#10
What was the main purpose of the Bretton Woods Conference held in 1944?
Establishment of the International Monetary Fund (IMF)
Creation of the World Bank
Introduction of the gold standard
Formation of the European Union (EU)
#11
Which economic policy is characterized by a decrease in government spending and lower taxes?
Monetary policy
Fiscal policy
Austerity measures
Expansionary policy
#12
What was the primary objective of the Plaza Accord signed in 1985?
To stabilize exchange rates among major currencies
To establish a common currency for European countries
To reduce trade barriers between North American countries
To combat deflation in developing economies
#13
Which of the following is a key feature of Keynesian economics?
Advocacy for free-market principles
Emphasis on government intervention during economic downturns
Promotion of supply-side economics
Belief in the efficiency of the gold standard
#14
Which country implemented the policy of 'glasnost' and 'perestroika' in the 1980s?
United States
China
Germany
Soviet Union (Russia)
#15
Which country experienced hyperinflation during the early 1920s, leading to the adoption of a new currency?
United States
Germany
Japan
France
#16
Which economic event is often cited as the trigger for the collapse of the Soviet Union?
The oil crisis of the 1970s
The Chernobyl disaster
The dissolution of the Warsaw Pact
The economic reforms under Gorbachev
#17
Which country's economy is often referred to as the 'Celtic Tiger' due to its rapid economic growth in the late 20th century?
#18
Which country implemented the policy of 'Abenomics' in the 21st century?
China
South Korea
Japan
India