4.3 Economic Indicators Answers

Which of the following is not a characteristic of a least-developed economy?

Use an example to explain why economists measure a country’s economic development by its GDP per capita rather than its total GDP.

Jobs focused on providing services are part of the __________ economic sector.

Highly developed economies are dominated by jobs in the __________ sector.

Jobs focused on obtaining natural resources or raw materials are part of the __________ economic sector.

Analyze the table below and answer the question that follows.Data courtesy of the IMFWhich of the countries in the table above had the most developed economy in 2009? Explain your answer.

Using complete sentences, explain the differences between developed and developing countries in the following areas: GDP per capita, the dominant sector(s) in the economy, and the standard of living for most of the people in the country.

Use an example to explain how investing money in better physical capital (machine, buildings, tools, and equipment) can help a country increase its GDP.

How does improving technology in primary and secondary sector jobs lead to more workers in the tertiary sector?

A country’s gross domestic product measures __________.