AnswersOC27 Economics-2102310-Sem-MeadowsEconomic Development

Economic Development Answers

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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.
2
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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.
3

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.
4

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.
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.
6

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.
7

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.
8

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.
9

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

A
country.
B
day.
C
dollar.
D
person.
10

What characterizes developing economies? Check all that apply.

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

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