Economic Development

A country with a ________ economy generally has a high standard of living. a. developing b. developed c. emerging d. transitioning

What characterizes developing economies? Check all that apply. a. a growing industrial economy b. a low level of reliance on natural resources c. a drop in the standard of living d. a focus on agricultural activity e. a shrinking middle class

Aging populations can be a problem for developed countries because a. there are fewer younger workers coming into the workforce. b. most older workers demand top-level pay and full benefits. c. many older people are skilled in manufacturing, not technology. d. younger workers cannot find jobs when older people work longer.

Read this excerpt describing the mission of the World Bank. The World Bank is a vital source of financial and technical assistance to developing countries around the world. It is not a bank in the common sense. Instead, it plays a different but supportive role in its mission of global poverty reduction and the improvement of living standards. It provides low-interest loans, interest-free credit, and grants to developing countries for education, health, infrastructure, communications, and many other purposes. According to this excerpt, what is one major way in which the World Bank differs from a regular bank? a. The World Bank is a source of financial assistance. b. The World Bank aims to improve living standards. c. The World Bank provides low-interest loans and credit. d. The World Bank serves people of different income levels.

A country that has multinational corporations is most likely to be a. a developed economy. b. a transitioning economy. c. a developing economy. d. a control economy.

Why might developed economies want to outsource manufacturing and other jobs to developing economies? a. Developed economies can find more inexpensive labor in developing economies. b. Developed economies are responsible for helping developing economies progress. c. Developed economies focus only on service, not manufacturing, so they must outsource. d. Developing economies produce higher-quality goods, so it makes sense to outsource.

In a transitional economy, a(n) ________ economy is changing to a mixed-market economy. a. advanced b. command c. free-market d. developed

The Czech Republic's decision in 2003 to join the European Union indicated that the Czech Republic a. was now equal in wealth to all other European nations. b. would give all economic control to the European Union. c. was willing to forge economic ties with other nations. d. would eventually achieve a mixed-market economy.

In a transitioning economy, what is a downside of rapid economic growth? a. Rapid economic growth can be difficult to regulate. b. Rapid economic growth benefits only the wealthy. c. Rapid economic growth usually leads to a crash. d. Rapid economic growth may stifle cultural growth.

One factor that indicates a developed economy's standard of living is its a. growth in outsourcing rates. b. strong social connections. c. high levels of education. d. low GDP per capita.