Voluntary Trade and Economic Growth Factors Test

Which is the best description of literacy rate?

• the ability to tell stories

• the ability to draw

• the ability to speak multiple languages

• the ability to read and write

Which is true of industrialized nations?

• they have little economy

• they offer no education

• they offer basic military training

• they have high literacy rates

How do industrialized countries keep the literacy rates high?

• offering training in other countries

• by offering better education

• by not sharing economies

• none of the above

What must happen before high quality and high paying jobs can exist?

• The population must be literate

• The country must have little resources

• The population must be illiterate

• Other countries must train citizens

What typically happens to the standard of living in a country with low literacy rates?

• The economy is booming

• Jobs are plentiful

• People are wealthy

• There is a low standard of living

What is the best description of Gross Domestic Product (GDP)?

• Grocery stores

• Public banking

• estimate of the value of goods and service that are manufactured and produced within a year in a country

• a measurement that compares and contrasts real estate and real estate investments

What is human capital?

• knowledge of another country

• skills of the military in another country

• a committee that regulates and maintains basic human rights

• knowledge and skills of a workforce within a nation

Which will likely raise the GDP of a country?

• Picking trade partenrs

• tariffs and banking

• imports and exports

• investing in education and training of a workforce

Which best describes standard of living?

• money & material comforts available to cititizens within their country

• a nation watching for new comforts to come available

• a Union of workers demanding for improved rights

• trade barriers limiting material comforts from entering the nation

In which sector does Russia invest?

• Automotive

• Machinery

• Energy

• Telecommunications