Unit 14 State Economic Growth and Development

Some countries in our region are experiencing a lack of industrialization, a low standard of living and a high population growth rate. Which of the following terms BEST describes the economies of these countries?

• Advanced

• Developed

• Developing

• Agricultural

Economic growth is measured by

• Infrastructural changes

• Changes in real GDP per capital

• Changes in gross domestic product

• Accumulation of capital goods

Some developing countries try to achieve economic growth with less governmental participation. This is MOST likely to be achieved through increased

• Private Investment

• Public Expenditure

• State Planning

• Trade Barriers

What is economic growth?

• An increase in real gross domestic product per capita

• An increase in nominal gross domestic product

• An increase in national income

• National income increasing at a faster rate than the rate of inflation

All of the following are drivers of economic growth EXCEPT:

• Human Capital

• Land and other natural resources

• A large dependent population

• Technological advancement

When an economy which was once booming suddenly starts to experience low demand for goods and services, leading to companies and businesses closing down, rising unemployment and falling standards of living, the country is said to be experiencing

• A recession

• A revaluation

• An externality

• A disequilibrium

In order to financially aid in the developmental projects of sub regions, this body engages in the fair and balanced distribution of funds

• World Bank

• Central Bank

• International Monetary Fund

• Caribbean Development Bank

This body is mandated to monitor, record, analyze and provide information about the social and economic development of countries globally.

• World Bank

• Central Bank

• International Monetary Fund

• Caribbean Development Bank

Economic development leads to all of the following EXCEPT:

• Increased access to health care

• Increase real per capital gross domestic product

• Increased access to education

• Increased dependence on the agricultural sector

What is NOT a source of underdevelopment?

• Insufficient natural resources

• High birth rates

• Undeveloped human capital

• Increasing GPD