Question 1

GDP,  life expectancy and literacy rates are used to determine a countries standard of living.

Accepted Answer

True

Answer

False

Question 2

The country of Chad has a significantly lower literacy rate than America and Italy.  This indicates that Chad is a highly developed country.

Accepted Answer

False

Answer

True

Question 3

GDP is the market value of all goods and services produced in a country in one year.

Accepted Answer

True

Answer

False

Question 4

Low literacy rate + Low GDP = High Standard of Living

Accepted Answer

False

Answer

True

Question 5

All of these are examples of service industry jobs except ___________.

Accepted Answer

Clothing Manufacturer

Answer

Teachers

Answer

Retail

Answer

Nursing

Question 6

Manufactured goods are tangible products or consumables.

Accepted Answer

True

Answer

False

Question 7

According to the chart, which country has the highest standard of living based on literacy rates?

Accepted Answer

Maldives

Answer

India

Answer

Sri Lanka

Answer

Pakistan

Question 8

A country with a high standard of living has all of these except _____________.

Accepted Answer

Few industries

Answer

Good educational system

Answer

Modern technology

Answer

Good healthcare

Question 9

Low literacy rate + low standard of living = Low GDP

Accepted Answer

True

Answer

False

Question 10

Which one does not belong in the category of agricultural industries and goods.

Accepted Answer

Manufactured Goods

Answer

Animal husbandry

Answer

Farmers Market

Answer

Crop Farming

Question 11

Why are developing countries viewed as poor?

Accepted Answer

Low GDP

Answer

High GDP

Answer

High literacy rates

Answer

Modern Technology

Question 12

Which of the following is a characteristic of a highly developed country?

Accepted Answer

Stable government

Answer

Low per capita income

Answer

Low life expectancy

Answer

Low literacy rate

Question 13

Agriculture industries are part of the economy that produces raw materials.  Examples include farming, fishing, mining and ____________.

Accepted Answer

Forestry

Answer

Computer Store

Answer

Healthcare

Answer

Bakery

Question 14

Many countries in Africa are identified as underdeveloped.  Choose the reason for this.

Accepted Answer

High birthrate, low levels of per capita income

Answer

Low birthrates, low levels of per capita income

Answer

Low birthrate, high level of per capita income

Answer

High birthrate, high levels of per capita income

Question 15

Look at the literacy rate and GDP for Taiwan and India.  Choose which one has the highest level of wealth.

Accepted Answer

Hong Kong

Answer

North Korea

Answer

India

Answer

Taiwan

Question 16

Raising the GDP of a country can improve the country's standard of living.

Accepted Answer

True

Answer

False

Question 17

Measuring  the GDP each year can do all of these except

Accepted Answer

Show education and skill levels of workers

Answer

Show if economy is growing or not

Answer

Compare one country's economy to another

Answer

Check a country's economic progress over time

Question 18

Investments in human capital (skills, talents, and education of human workers) can help to increase economic growth.

Accepted Answer

True

Answer

False

Question 19

Russia has a low GDP and high literacy rate, but a lower standard of living than the rest of Europe.  Why?

Accepted Answer

Economic system switched from command to mixed

Answer

Lack of education

Answer

Economic system switched from  traditional to command

Answer

Access to technology

Question 20

The 4 categories of economic activity used to measure a country's economic growth are ...

Accepted Answer

Agriculture, Retail, Manufacturing & Service

Answer

Democracy, Monarchy, Oligarchy & Dictatorship

Answer

Command, Traditional, Market & Mixed

Answer

Literacy, Education, Healthcare & Technology

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