Inflation is a measure of how much the prices of goods, services and wages rise each year. Why does high inflation show that the economy is not developed?
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Only newly formed economies show high levels of inflation
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High inflation shows the government does not have control of the economy
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If rapid inflation occurs the goods will become cheaper for people to buy
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High inflation means that the GDP is going up rapidly
Q.2.
What is the correlation between literacy and GDP per capita?
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A weak, positive correlation
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A strong, negative correlation
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A weak, negative correlation
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A strong, positive correlation
Q.3.
What is the Human Development Index?
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A measure of how an individual human can help the economy grow
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The factors that lead to deaths and influence life expectancy
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A measure of the non-economic aspects of a country's economy
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The measure of how a government treats its population
Q.4.
What is the pattern of development in the EU?
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All nations are developing at the same rate
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Some nations are established, whilst others are still emerging
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All nations are fully developed
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All nations are developing into advanced economies
Q.5.
What is GDP?
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Gross domestic product - Total value of goods and services produced by the country in a single year
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Greater domestic production - Total economic output of a country per year
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Gross demographic product - Total output of the nation per capita (per person)
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Greater disciplined production - The improvement of the national produce as the country develops
Q.6.
What does economic structure measure?
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The ratio between primary, secondary and tertiary sectors
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The inequality between the richest and poorest sections of the population
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The spending priorities of the government
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The rate of economic growth
Q.7.
How will birth and death rates change as economies become more developed?
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Birth rates and average life expectancy will both go up
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Birth rates will go up and average life expectancy will go down
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Birth rates and average life expectancy will both go down
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Birth rates will go down and average life expectancy will go up
Q.8.
Which of these nations is not seen as being economically advanced?
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The UK
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Australia
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United States
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China
Q.9.
What are the spending priorities of an economically advanced economy?
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Health and Education
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Military expenditure
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Paying off debts
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Controlling internal conflicts
Q.10.
Why is the inequality in wealth an important measure of a country's economic development?
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The greater the inequality, the faster the economy can grow due to very rich individuals
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Inequality can hinder growth as the poorer members of society struggle with poverty
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A society is more advanced if everyone has equal wealth
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Inequality is a minor measure in economic growth
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