AnswersCMS 2026-2027 Economics and Personal Finance CREDIT RECOVERYEconomic Development

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1
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One factor that indicates a developed economy's standard of living is its

A
high levels of education.
B
low GDP per capita.
C
growth in outsourcing rates.
D
strong social connections.
2
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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
younger workers cannot find jobs when older people work longer.
D
many older people are skilled in manufacturing, not technology.
3

How might foreign investment be problematic for a transitioning economy?

A
A foreign government may seize control of the country.
B
Foreign investment can temporarily slow economic growth.
C
It may be difficult to adjust to another nation’s influence.
D
The transitioning economy must adopt a foreign currency.
4

In a transitioning economy, what is a downside of rapid economic growth?

A
Rapid economic growth may stifle cultural growth.
B
Rapid economic growth can be difficult to regulate.
C
Rapid economic growth benefits only the wealthy.
D
Rapid economic growth usually leads to a crash.
5

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
Developing economies produce higher-quality goods, so it makes sense to outsource.
D
Developed economies focus only on service, not manufacturing, so they must outsource.
6

One social issue often facing developing countries is

A
reluctance to accept change.
B
democratic rule is easily obtainable.
C
very high population growth.
D
a shortage of natural resources.
7

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.
8

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

A
The IMF helps a developing country’s citizens establish bank accounts.
B
The IMF provides economic advice and loans to developing countries.
C
The IMF gives college aid to qualified individuals in developing countries.
D
The IMF establishes industries and technologies in developing countries.
10

Why are environmental problems common in developing countries?

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

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