1.The government determines prices for goods and services in a

market economy

traditional economy

demand economy

command economy

2.Which of the following describes a developed/advanced nation?

A high gross domestic product and a low per capita income

A high Human Development Index and a high per capita income

A low gross domestic product and a low standard of living

A low Human Development Index and a high standard of living

Worker hours to

produce one unit

of oil Worker hours to

produce one unit

ofnatural gas

Brazil 8 4

Argentina 10 2

Mexico 7 3

United States 6 1

3.According to the chart, which country has an absolute advantage over the other countries in oil production?

Brazil

Mexico

Argentina

United States