Economic Development Answers

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3

Read about the economy in Country A.Based on what you now know, what are at least three factors that demonstrate that Country A has a developing economy?

Answer:

Based on the characteristics of a developing economy, three factors that demonstrate Country A is developing include its low GDP per capita, the fact that a majority of the population works in agriculture (primary sector), and its low literacy rate. Additionally, a high birth rate or high infant mortality rate would also indicate a developing status.

4

Which of these factors did you include? Check all that apply.

A
a low GDP
B
an economy based on agriculture
C
an economy based on a few industries
D
a low standard of living
E
a lack of infrastructure
F
low labor costs
6

Which of these factors is the strongest sign that Country B has a developed economy?

A
Multinational corporations operate within its borders.
B
It is home to many high-tech companies.
C
It has laws favorable to entrepreneurship
D
It has a high gross domestic product.
8

Which factor places this nation in the transitioning category?

A
Multinational corporations operate within its borders.
B
It is shifting from a planned to a free-market economy.
C
It has recently increased trade with Western Europe.
D
It has a rising GDP.
9

The single country with the world's largest GDP is .The member countries of the European Union have about the same GDP as .Together, these four countries and the European Union have half of the world's total GDP.

Answers:
The single country with the world's largest GDP is .The member countries of the European Union have about the same GDP as .Together, these four countries and the European Union have half of the world':the US
The single country with the world's largest GDP is .The member countries of the European Union have about the same GDP as .Together, these four countries and the European Union have half of the world':more than
10

✔ the USJapanIndia

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