If a Country Has Reached an Economic Development Level Where

question 15

Multiple Choice

If a country has reached an economic development level where there is a focus on manufacturing of both semidurable and nondurable consumer goods and goods demanded relate to equipment and supplies to support manufacturing, which of the following stages of Rostow's five-stage model of economic growth is the country in?

• A) The traditional society
• B) Drive to maturity
• C) Preconditions for takeoff
• D) Takeoff
• E) The age of mass consumption

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Definitions:

Spendthrifts

Individuals who spend money in an extravagant and uncontrolled manner.

Tightwads

Individuals who are excessively frugal, often to the point of foregoing necessary or beneficial expenditures out of an aversion to spending money.

Consumer Confidence

A measure of how optimistic or pessimistic consumers are about the overall state of the economy and their personal financial situation.

Exchange Rates

The value of one currency for the purpose of conversion to another, impacting international trade and economics.