Hong Kong and Singapore Both Have Relatively

question 53

Multiple Choice

Hong Kong and Singapore both have relatively

• A) high trade barriers and high rates of economic growth.
• B) high trade barriers and low rates of economic growth.
• C) low trade barriers and high rates of economic growth.
• D) low trade barriers and low rates of economic growth.

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Definitions:

Rust Belt

A region in the northeastern and midwestern US characterized by declining industry, aging factories, and a decreasing population, historically known for its steel production and heavy manufacturing.

Federal Budget Deficit

The deficit occurring when government spending surpasses income within a specific budget year.

Unemployment Rates

The measure of the unemployed in the labor force who are seeking job opportunities.

Economic Downturn

A period of poor economic performance across a country or region, often characterized by a decline in GDP, employment, and trade.