Friday: Economic Development

A nation that enjoys a high standard of living is known as a...

• Developed Nation

• Less Developed Country

• Third World Country

• Undeveloped Country

A nation that has a low level of material well-being is known as...

• Developed Nation

• Less Developed Country

• First World Country

• Highly Developed Nation

On what continent are 4 of the 5 countries with the highest GDP per capita located?

• Africa

• Antarctica

• South America

• Europe

Which of the following is NOT a factor in a country's level of development

• GDP

• Life Expectancy

• Literacy

• Population

What continent is home to most of the countries with the bottom 20 Human Development Index scores as of 2019?

• Africa

• North America

• Australia

• Europe

What type of countries is the World Bank focused on helping?

• Developed Countries

• Wealthy Countries

• First World Countries

• developing countries

What is the role of the WTO?

• help give guidelines for trade between member countries and help settle trade disputes

• keep trade from happening between China and the United States

• set the price of oil

• set prices for imports and exports for the European Union

Which of the following is a common criticism of the WTO?

• The WTO favors wealthy countries and hurts developing countries with high taxes on imports

• The WTO only favors developing countries and does nothing to help developed countries

• The WTO does nothing to protect intellectual property rights

• the WTO does not offer any help to pharmaceutical companies

What type of economic system would be favored by John Keynes?

• Command

• Market

• Mixed

• Traditional

When did Keynes believe federal governments should be involved in the economics of a nation?

• All the time

• Never

• only when necessary

• only when the leader of the government wanted