The High Growth Rates and Large Population in the BRIC

question 34

True/False

The high growth rates and large population in the BRIC economies imply that these countries will have a significant impact on the world economy.

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Definitions:

Store of Value

A function of money allowing individuals to preserve purchasing power for future use.

Asset

Something that is owned by or owed to an individual or a business firm.

Medium of Exchange

An item that is widely accepted in exchange for goods and services, facilitating trade by eliminating the need for a coincidence of wants.

Federal Deposit Insurance Corporation

Insures bank deposits up to $100,000.