Economic Development Answers

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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.

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.
2
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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.
3

What steps must countries take to transition to a mixed-market economy? Check all that apply.They must establish state-owned businesses.They must decrease private ownership.They must establish a fair labor market.They must discourage foreign investment.They must open up trade to other countries.

A
They must establish state-owned businesses.
B
They must decrease private ownership.
C
They must establish a fair labor market.
D
They must discourage foreign investment.
E
They must open up trade to other countries.
4

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.
5

A country with a ________ economy generally has a high standard of living.

A
developing
B
developed
C
emerging
D
transitioning
6

In a transitional economy, a(n) ________ economy is changing to a mixed-market economy.

A
advanced
B
command
C
free-market
D
developed
7

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.
8

"GDP per capita" means that the GDP is calculated per

A
country.
B
day.
C
dollar.
D
person.
9

As of 2013, which of these countries had the highest GDP per capita?

A
Uganda
B
the United States
C
Switzerland
D
Brazil
10

is the process of an economy’s increasing industrialization, standard of living, and economic wealth.

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