AnswersOC27 Economics-2102310-Sem-MeadowsEconomic Development

Economic Development Answers

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1
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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 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
3

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.
4

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.
6

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.
7

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.
8

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.
9

As of 2013, which of these countries had the highest GDP per capita?

A
Uganda
B
the United States
C
Switzerland
D
Brazil

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