AnswersISP ONLY Economics S5000XXEconomic Development

Economic Development — Unit test Answers

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1
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A country with a ________ economy generally has a high standard of living.

A
developing
B
developed
C
emerging
D
transitioning
2
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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.
3

One social issue often facing developing countries is

A
democratic rule is easily obtainable.
B
reluctance to accept change.
C
a shortage of natural resources.
D
very high population growth.
4

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.
5

What does the International Monetary Fund (IMF) seek to accomplish for developing countries?

A
The IMF establishes industries and technologies in developing countries.
B
The IMF helps a developing country’s citizens establish bank accounts.
C
The IMF gives college aid to qualified individuals in developing countries.
D
The IMF provides economic advice and loans to developing countries.
6

What steps must countries take to transition to a mixed-market economy? Check all that apply.

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.
7

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.
8

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

A
advanced
B
command
C
free-market
D
developed
9

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.
10

What characterizes developing economies? Check all that apply.a growing industrial economya low level of reliance on natural resourcesa drop in the standard of livinga focus on agricultural activitya shrinking middle class

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
11

How might foreign investment be problematic for a transitioning economy?

A
Foreign investment can temporarily slow economic growth.
B
It may be difficult to adjust to another nation’s influence.
C
A foreign government may seize control of the country.
D
The transitioning economy must adopt a foreign currency.
12

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.
13

"Development"

Answer:

33363

14

Which statement accurately describes a developing country?

A
The country's population has a high growth rate.
B
The country has a high standard of living.
C
The country's population has a high life expectancy.
D
The country has a high GDP per capita.
15

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.
16

One sign of transition to a mixed-market economy is the establishment of

A
a fair labor market.
B
anti-poverty regulations.
C
state-owned business.
D
a smaller middle class.
17

Why are environmental problems common in developing countries?

A
The citizens of developing countries have not been educated about the dangers of pollution and the need to protect resources.
B
People in developing countries travel long distances by car to get to work and school, leading to air pollution and habitat destruction.
C
Rapid growth of new industries and technology has led to an enormous increase in environmental woes in developing countries.
D
Developing countries often specialize in manufacturing and providing raw materials, which can seriously harm the environment.

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