In the Three Worlds Model, What Qualities Best Describe the Second

question 63

Multiple Choice

In the Three Worlds model, what qualities best describe the Second World nations?

• A) socialist economy, communistic
• B) technologically advanced, industrialized
• C) heavily populated, technologically advanced
• D) democratic, capitalist economy

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Definitions:

Depreciates

Describes a decrease in value over time, often used in reference to currency or physical assets.

Imports

Goods and services purchased from other countries and brought into a country.

Inflation

The speed at which the overall price level for goods and services increases, thereby diminishing buying power.

Floating Exchange Rates

A system in which currency values are allowed to fluctuate according to foreign exchange market mechanisms without direct intervention by the country’s government.