GDP, Human Capital, Physical Capital (Capital Goods), and Trade

Front

Define GDP (Gross Domestic Product)

Back

The total value of all goods and services produced in a country in a year

Front

Investing in Human Capital and Physical Capital will increase GDP.

Back

True

Front

Why is it important for a country to invest in human capital?

Back

Countries that invest in the education and training of their people usually have a higher GDP

Front

Which are examples of physical capital? Options: Iron ore, silver, wood, diamonds.; On the job training, public education.; Technology, machinery, buildings, tools.; Starting your own business or inventing something new.

Back

Technology, machinery, buildings, tools.

Front

Brazil sends university students abroad to study in other countries.

Back

Human Capital

Front

Russia invests in the expansion of its ports. What type of investment is this? Options: Human Capital, Capital Goods (Physical)

Back

Capital Goods (Physical)

Front

Canada is planning to build a city with Internet speeds 10 times faster than anywhere else in the world. What type of economic resource does this represent? Options: Human Capital, Capital Goods (Physical)

Back

Capital Goods (Physical)

Front

Germany upgrades its highways.

Back

Capital Goods (Physical)

Front

A company builds a new factory.

Back

Capital Goods (Physical)

Front

What is an exchange rate?

Back

The price of one nation's currency in terms of another's ($1 = $15 pesos)