Economic Indicators Answers

1 verified answers
1
Free Preview

Jobs focused on gaining knowledge for others to use are part of the __________ sector.

A
primary
B
secondary
C
tertiary
D
quaternary
2
Free Preview

What effect does investing in physical and human capital have on a country’s GDP?

A
Investing in capital increases a country’s GDP.
B
Investing in capital slightly decreases a country’s GDP.
C
Investing in capital greatly decreases a country’s GDP.
D
Investing in capital has no effect on a country’s GDP.
3

In 1900, 40% of the US labor force worked in agriculture. A hundred years later, in 2000, only 2% worked in agriculture. What is an important reason for this change?

A
There was not enough good farmland left.
B
Congress passed a law restricting the number of farmers there can be.
C
Improved technology meant that the country needed fewer farmers to meet its needs.
D
Large numbers of farmers left the US for countries where they were needed.
4

What is the most frequently used measure of economic development?

A
total GDP
B
literacy rate
C
income tax rate
D
GDP per capita
5

Which of the following is not evidence of a country’s increasing economic development?

A
a larger GDP per capita
B
an increase in primary-sector jobs
C
the use of more and more technology
D
a better standard of living for most people
6

Some benefits of using __________ on farms instead of human labor are that work can be done much more quickly and the cost of production usually is decreased.

A
GDP
B
technology
C
a standard of living
D
economic sectors
7

What determines in which economic sector a job belongs?

A
how much the job pays
B
how many people have the job
C
how much people in the job produce
D
how closely the job is connected to natural resources
8

Leon is a family doctor. In which economic sector does he work?

A
primary
B
secondary
C
tertiary
D
quaternary
9

Read the sentence below and answer the question that follows. Each economic sector plays a vital role in a nation’s economy. The word underlined in the sentence above is best defined as __________.

A
decision
B
activity
C
dollar
D
part
10

Andy is the captain of a fishing boat. In which economic sector does he work?

A
primary
B
secondary
C
tertiary
D
quaternary

Did you find these answers helpful?