The relationship between the literacy rate and the standard of living in SW Asia is _____________.

The higher the literacy rate, the higher the standard of living.

The Saudi Arabian government requires all children to attend school beginning at age 6. What is the main long-term goal?

Investing in education increases their ability to have high paying jobs

How does Israel benefit from the extremely high literacy rate?

Israel is able to sustain highly-skilled industries.

The GDP in Saudia Arabia is 619 billion dollars per year, while the GDP in Jordan is only 37 billion dollars. Why?

Saudi Arabia has much more oil than Jordan.

Saudi Arabia's literacy rate has increased from 48% in 1989 to over 99% in 2020. How does this impact the Saudi economy?

It helps increase the country's GDP.

Which of the following would reflect Israel's mixed economy?

A combination of privately-owned businesses and government regulations

What description below best describes a Market Economy?

This system allows people to make their own economic choices.

Why is it important for a country to invest in human capital?

Countries that invest in the education of their people have higher GDPs.

What is the definition of Gross Domestic Product (GDP)?

The total value of all the goods and services a country produces in a year

If the literacy rate is higher in Kuwait than Afghanistan, what could you predict about the GDP?

Kuwait's GDP would be higher than Afghanistan's GDP

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SW Asia Economic Quiz

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Questions 16

Answers

1
The relationship between the literacy rate and the standard of living in SW Asia is _____________.
The standard of living is independent of the literacy rate.
Low literacy rates create a higher standard of living.
The higher the literacy rate, the higher the standard of living.
Literacy rate has no effect on the standard of living
2
The Saudi Arabian government requires all children to attend school beginning at age 6. What is the main long-term goal?
Have kids to go to school lets Saudi adults without kids to attend college
Investing in education increases their ability to have high paying jobs
Requiring 6 year olds to go to school creates jobs for adults
Having all children go to school at 6 guarantees they all go to college
3
How does Israel benefit from the extremely high literacy rate?
Israel can afford to cut spending on education.
Israel doesn't need workers to do manual labor.
Israel is able to sustain highly-skilled industries.
Israel provides companies in other countries highly skilled workers.
4
______ is the knowledge and skills that allow for people to make goods and services for society.
currency
entrepreneurship
human capital
tariffs
5
The GDP in Saudia Arabia is 619 billion dollars per year, while the GDP in Jordan is only 37 billion dollars. Why?
Saudi Arabia has much more oil than Jordan.
Saudi Arabia has a higher population than Jordan.
Saudi Arabia has more access to fresh water than Jordan.
Saudi Arabia has much more timber than Jordan
6
Saudi Arabia's literacy rate has increased from 48% in 1989 to over 99% in 2020. How does this impact the Saudi economy?
It results in fewer jobs for Saudi citizens.
It helps increase the country's GDP.
It causes a decrease in the GDP
It decreases foreign trade.
7
The economies of Israel, Saudi Arabia, Turkey, and Iran can be best described as:
Traditional
Mixed
Market
Command
8
Which of the following would reflect Israel's mixed economy?
Prices and wages are solely regulated by the country's government.
Economic decisions are based on customs and beliefs of ancestors.
Economic decisions are based on customs and beliefs of Allah.
A combination of privately-owned businesses and government regulations
9
In a traditional economy, how are economic decisions made?
Government leaders
Customs and traditions
A mix between customers and government leaders
Consumers
10
What description below best describes a Market Economy?
This system allows people to make their own economic choices.
This system has long-held customs and culture plays a major role.
The government controls all aspects of this system.
This system includes elements of the 3 other economic systems.
11
Why is it important for a country to invest in human capital?
Countries that invest in new technology have a higher GDP.
Countries that invest in the education of their people have higher GDPs.
All humans need capital to survive.
Starting your own business is good for the economy.
12
What is the definition of Gross Domestic Product (GDP)?
The total value of all goods produced by entrepreneurs in a year.
The total value of goods imported within a year.
The total value of all the goods and services a country produces in a year
The total value of taxes collected in a year.
13
If the literacy rate is higher in Kuwait than Afghanistan, what could you predict about the GDP?
Afghanistan's GDP would be higher than Kuwait's GDP
Their GDP would be the same
Kuwait's GDP would be higher than Afghanistan's GDP
You cannot predict anything about the GDP.
14
What product depends on the government needs in a ____________ economy.
market
mixed
command
traditional
15
Since almost all economies have characteristics of market and command systems, most economies are known as __________.
traditional
command
mixed
market
16
The total value of goods and services produced by a country in one year is the ________.
GDP
ROTFL
HBO
BLT

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