Literacy Rates and Standard of Living

Based on the information in the table, which statement is MOST LIKELY correct?

• India has a higher gross domestic product than China.

• China's economy is more specialized than India's economy.

• South Korea has a higher average standard of living than India.

• India spends more per student on education than South Korea.

Why do countries with high literacy rates usually have a higher average standard of living than countries with low literacy rates?

• Countries with high literacy rates usually have lower income tax rates than countries with low literacy rates.

• Prices for consumers goods are much lower in countries with high literacy rates than in countries with low literacy rates.

• Companies that need high-skilled employees are more likely to open offices in countries with high literacy rates.

• Government regulation is more likely to limit the negative effects of business activity in countries with high literacy rates.

What is usually true in countries with low literacy rates?

• They invest heavily in human capital.

• They struggle to develop economically.

• They have low levels of international trade.

• They have limited access to natural resources.

The Chinese government wishes to increase the country's gross domestic product. What is the BEST approach for the government to take to accomplish this goal?

• weakening protections of private property rights

• taking direct control of profitable Chinese industries

• imposing barriers to trade between China and its trading partners

• investing in human capital by improving its public education system

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NGSS.HS-ETS1-3

Why do businesses invest in the human capital of their employees through training and education?

• to improve workplace efficiency

• to improve choices for consumers

• to improve trade with other countries

• to improve access to new technology

A low literacy rate usually indicates that a country lacks

• capital goods

• a strong agricultural sector

• human capital

• a strong industrial sector

How do investments in capital goods help a country increase its gross domestic product?

• They improve the skills of employees

• They lead to lower unemployment rates

• They make businesses more efficient

• They encourage entrepreneurship

Why is maintaining up-to-date machinery and industrial equipment important to the Japanese economy?

• Manufacturing is one of the largest sectors of the Japanese economy

• Agriculture is one of the largest sectors of the Japanese economy

• The Japanese economy relies on the export of raw natural resources

• The Japanese economy relies on the import of manufactured goods

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NGSS.HS-ETS1-3

NGSS.HS-ETS1-1

Businesses usually invest in new capital goods in order to increase

• their employees' human capital

• the efficiency of production

• their number of employees

• the quality of their products

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NGSS.HS-ETS1-3

Japan is one of the world's largest net importers of agricultural products, MAINLY due to its lack of:

• entrepreneurship

• capital resources

• natural resources

• human resources

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NGSS.HS-ESS3-1