Latin American Governments and Economies #2

Which of the following is NOT a factor of economic growth?

• natural resources

• human capital

• entrepreneurs

• capital humans

• capital goods

The total value of goods and services produced in a country in a year is called the __________________.

• XYZ

• GDP

• PGA

• ZXY

GDP stands for ______________________________

• gross domestic product

• gross domestic problems

• great domestic problems

• great domino product

Gifts of nature are called _______________________.

• entrepreneur

• natural resources

• capital goods

• human capital

The following list is describing which factor of production: education, health, and showing up ready to work?

• entrepreneur

• human capital

• natural resources

• capital goods

Machinery, tools, and trucks to transport goods are examples of which of the four factors of economic growth?

• human capital

• natural resources

• entrepreneur

• capital goods

A person who takes the risk and starts up a company is known as a __________________.

• human capitalist

• capital goods

• entrepreneur

• natural resource

The ability to read and write at an eighth grade level is called _____________.

• readability rate

• illiterate rate

• literacy rate

• writerability rate

What are the 4 factors that lead to a country’s economic growth?

• investment in human capital, investment in physical capital, land (natural resources), entrepreneurship

• good international relations, a democratic president, strict laws, freedom of press

• a powerful military, strong dictatorial leadership, communist regime, little personal freedom

• a monarchy, the World Bank, a parliamentary democracy, personal freedom

Why should countries invest in developing human capital?

• because the more people you have working in one area like a capital the more productive it will be

• it leads to a lower GDP

• it leads to lower literacy rate

• investment in the education and skills training of people creates a smarter and more productive workforce, which relates to a higher GDP.