AnswersOC27 Economics-2102310-Sem-MeadowsCurrencies and Exchange Rates

Economic Development Answers

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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.
3

"Development"

Answer:

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4

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.
5

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.
8

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
9

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.
10

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.

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