Use the Following to Answer Questions

question 208

Multiple Choice

Use the following to answer questions
Figure: Economic Growth in Major World Regions
-(Figure: Economic Growth in Major World Regions) Refer to the figure,which shows real GDP per capita over time in different regions of the world.The chart shows that:

• A) all regions of the world eventually achieved significant growth.
• B) some regions of the world have always experienced growth.
• C) significant growth has occurred in some regions only since 1950.
• D) all regions of the world remain poor today.

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Definitions:

Subsidies

Financial support provided by governments to individuals, organizations, or industries to encourage certain activities or reduce costs.

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower opportunity cost than its competitors.

Standard Of Living

The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class in a certain geographic area.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.