The US and Other OECD Countries Had High Levels of GDP

question 61

Multiple Choice

The US and other OECD countries had high levels of GDP per person in 2011 despite growing at a moderate rate from 1960 to 2011 because:

• A)of exploitation of foreign countries.
• B)their economies had grown at a moderate rate for a century or more.
• C)they stole the wealth of less developed countries.
• D)all of the above.

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Definitions:

Property Rights

Legal rights over the use, control, and transfer of property, covering both tangible (like land and objects) and intangible (such as intellectual property) assets.

Sociocultural Factors

External factors including method and style of communications, religions, values and ideologies, education standards, and social structure.

Labor Laws

Regulations governing the relationship between employers and employees, focusing on rights, duties, and standards in the workplace.

Born Global

Companies that engage in international expansion soon after starting in a domestic market.