Economic Growth of Latin America

How do literacy rates affect their standard of living?

• The higher the literacy rates the lower the standard of living.

• The higher the standard of living the lower the literacy rates.

• The higher the literacy rates the higher the standard of living.

Literacy rates in Cuba are among the highest in the world, but standard of living is very poor. Why?

• Cuba’s democratic government gave too much power to the people and not enough government

  regulation.

• Cuba’s communist government gave too much power to the people and not enough government

  regulation.

• Cuba’s communist government mismanaged much of their money resulting in poverty for its citizens.

Investing in Education

• Human Capital

• Capital Goods

Investing in Technology

• Human Capital

• Capital goods

Investing in Skills

• Human Capital

• Capital Goods

Investing in New Machinery

• Human Capital

• Capital Goods

Investing in Health

• Human Capital

• Capital Goods

Updating Factories

• Human Capital

• Capital Goods

Capital goods are the ___________ people use to produce goods and services.

• Raw Materials

• Factories & Technology

• Skills, knowledge, & experience

Human capital includes the _______________ people use to produce goods and services.

• Raw Materials

• Factories, Machines, & Technology

• Skils, Knowledge, & Experience