Chapter 24

Which of the following is NOT a characteristic of a developing nation?

• Low GDP

• High Literacy Rates

• Agriculture Economy

• Poor Health Conditions

This type of Tariff is imposed to generate revenue for the government.

Developing nations tend to have a higher standard of living

• True
• False

Which of the following is a type of foreign aid?

• Political Assistance

• Environmental Assistance

• Technical Assistance

• Humanitarian Assistance

State the name of the most notable lending agency

Economic assistance includes loans or outright gifts of money or equipment

• True
• False

List the two ways nations can be labeled

We have learned that development can be achieved through two main courses of action. State the name of the course of action that focuses on producing goods and services for the DOMESTIC market.

Which of the following is an obstacle to economic development? (there may be more than one correct answer)

• Unlimited Resources

• Foreign Debt

• Stable Government

• Loss of Capital

• Lack of Education

Corrupt officials inspire foreign investors.

• True
• False