AnswersW Geography_B_ICBarriers to Economic Growth

Barriers to Economic Growth — Unit test Answers

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1
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Which of the following statements about the economies of the world is false?

A
The US economy is the largest in the world when measured per country.
B
Four of the top five economies, measured in GDP per person, are located in Europe.
C
The bottom five economies, measured in GDP per person, are located in Africa.
D
The US economy is the largest in the world when measured in GDP per person.
2
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According to Walt Rostow's modernization model, a country becomes developed when __________.

A
it becomes agriculturally self-sufficient
B
it mobilizes capital for business investments, thereby increasing its exports
C
it has a high literacy rate and widespread access to education for people of all social classes
D
it has an economy based on the production of goods and services demanded by the global economy
3

How much of the United States female population works outside of the home?

A
half
B
two-thirds
C
three-quarters
D
one-third
4

Creating export processing zones, passing tax laws that favor businesses, and encouraging outsourcing __________.

A
are actions NGOs can take to benefit growing economies
B
are typical ways in which the US helps other nations' economies
C
are ways that have helped developing economies to grow
D
have not been successful in fostering economic success
5

What effect do tax incentives have on economic development?

A
Tax incentives have no impact on economic development.
B
Tax incentives only allow the rich to get richer and the poor to get poorer.
C
Tax incentives encourage international trade of human or physical resources.
D
Tax incentives only affect economic development when a nation creates an important technology.
6

All of the following are examples of unpaid labor, except __________.

A
cooking for one’s own family
B
cleaning the house of a wealthy family for small wages
C
taking care of one’s children or elderly family members
D
working in the family vegetable garden
7

All of the following jobs could be placed in the quinary economic sector except __________.

A
a firefighter
B
a corporate chief executive officer
C
a worker in a unionized auto factory
D
a school teacher
8

The next best alternative given up when making a choice is called the __________.

A
opportunity cost
B
comparative advantage
C
primary objective
D
negative consequence
9

What was the foundation on which Western culture was built?

A
African traditions
B
American traditions
C
Greek and Roman traditions
D
Greek and Asian traditions
10

A pure market economy is sometimes called pure

a
a. command economy.
s
socialism.
c
communism.
c
capitalism.
11

Underdeveloped nations do not exploit girls and women to make money. Please select the best answer from the choices provided.

A
T
B
F
12

Political instability often leads to economic instability, which leads to more political instability. This creates a vicious cycle. Please select the best answer from the choices provided.

A
T
B
F
13

How do export processing zones help overcome barriers to economic development?

A
They increase costs for developing countries.
B
They only help wealthy nations become wealthier.
C
They help increase job growth in developing nations.
D
They organize doctors to provide healthcare in developed nations.
14

Why might an economist think that some jobs categorized as quaternary-sector jobs could be included in the tertiary sector?

Answer:

Some quaternary jobs, such as teaching or consulting, could be seen as providing services similar to other tertiary sector jobs. The distinction between providing information and providing a service can sometimes be blurry.

15

Explain why no modern nations have a purely free-market economy.

Answer:

No modern nations have a purely free-market economy because governments always play some role in regulating businesses, protecting consumers, and providing public services. Additionally, pure free markets would not address issues like monopolies or externalities effectively.

16

What are the cons of a mixed market economy for most citizens? Select four answers.

A
There may be a sizable gap between rich and poor people.
B
It can be very difficult for citizens to start private businesses.
C
Citizens must pay for most basic necessities by themselves.
D
There is no guarantee of steady employment for many citizens.
E
Citizens may pay higher taxes than in other economic systems.
F
Citizens often purchase their own health care and higher education.
17

Using complete sentences, analyze the causes for gender disparity in developing nations and explain the challenges women face in these countries.

Answer not available
18

According to the lecture, 75% of US jobs are focused on providing services. This means they are in the __________ sector of the economy.

A
primary
B
secondary
C
tertiary
D
quinary
19

The Grameen Bank of Bangladesh __________.

A
is a vocational training site for women in the developed world
B
has been cited by the United Nations as being discriminatory against women
C
started the practice and concept of microloans
D
provides loans to men in female-dominated societies
20

Read the passages below and answer the question that follows. John loves to sleep late in the morning. He also knows that school is important. This morning, John chose to wake up and get to school on time. In doing this, he gave up the opportunity to sleep in. The opportunity cost of John's choice to go to school is two or three hours of sleep. Ana loves to go camping with her family and is looking forward to their trip next weekend. Ana learns that her good friend is having a sleepover birthday party the same Saturday as the trip. For Ana, what would be the opportunity cost of going to her friend's party? Why?

Answer not available

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