Question 1

Economic development is primarily&#10;A) the same as economic growth&#10;B) about standards of living&#10;C) about social well-being beyond simple economic growth&#10;D) about exploitation of natural resources

Accepted Answer

Economic development encompasses improvements in standards of living, education, health, and social well-being, beyond just economic growth.

Question 2

Most of the world today in terms of population belongs to which zone of economic development?&#10;A) core&#10;B) periphery&#10;C) external arena&#10;D) semi-periphery

Accepted Answer

D

Question 3

What is &#34;purchasing power parity&#34;(PPP)?&#10;A) how much it costs to buy one thing rather than another&#10;B) how much a common &#34;market basket&#34; of goods costs to purchase locally&#10;C) the difference between the price of something in one currency versus another&#10;D) the price of something at one point in time compared to another

Accepted Answer

Purchasing power parity (PPP) is a measure of the relative value of different currencies, based on the cost of a common "market basket" of goods and services in each country. It reflects how much the same goods cost in different countries and helps to compare the actual purchasing power of different currencies.

Question 4

Five combinations of birth and death rates determine the degree to which a country can have pressures from large numbers of elderly and young dependent for support on the working-age population. Which type has the largest number of youth relative to total population?

A) type 1 (both rates are >19)
B) type 5 (birth rate is >15 and death rate is <17)
C) type 4 (birth rate 15-19, death rate <17)
D) type 3 (birth rate >19, death rate <17)

Accepted Answer

Type 3, with a birth rate greater than 19 and a death rate less than 17, would have the largest number of youth relative to the total population due to the high birth rate and low death rate, leading to a younger population overall.

Question 5

Servicing foreign debt is a serious challenge for some poorer countries more than others. In the 1980s and 1990s some countries borrowed heavily to finance economic growth but at a heavy price. Which world region or country has had the most serious debt service problem?

A) the United States
B) Latin America
C) China
D) Southeast Asia

Accepted Answer

Latin America had a serious debt crisis in the 1980s and 1990s due to heavy borrowing to finance economic growth, leading to difficulties in servicing their foreign debt. The other regions and countries listed have not faced similar levels of debt service problems as Latin America.

Deck 2: Global Patterns and Trends