Australia: Factors That Influence Economic Growth Question Preview (ID: 56002)


Australia: Factors That Influence Economic Growth. TEACHERS: click here for quick copy question ID numbers.

In order to sustain high-quality, well-paying, in-demand jobs, a labor force must be able to read and write which means they must be _______.
a) literate
b) illiterate
c) well-rounded
d) college-educated

Low literacy rates typically correlate to lower ___________.
a) library visitation rates
b) standards of living
c) book sales
d) housing sales

Australia has a 99% overall literacy rate so the standard of living for most people is _______.
a) very low
b) nonexistent
c) very high
d) in the middle

The level of wealth and material comfort available to people is their _________.
a) GDP
b) wage
c) human capital
d) standard of living

The estimated total value of all the final goods and services produced in a nation in a year’s time is the ______.
a) GDP (gross domestic product)
b) GPO (gross product output)
c) quota
d) salary

To ensure a healthy and growing GDP, nations must invest in _______ like the healthcare education, and training of a nation’s workers.
a) human capital
b) physical capital
c) mental capital
d) natural resources

One factor which can impact a nation’s GDP is its level of investment in _______ like the factories, machinery, and technology that businesses need.
a) human capital
b) capital goods (physical capital)
c) state capital
d) lower case

___________ like coal, iron ore, natural gas, oil, gold, silver, copper, and uranium also affect Australia's GDP.
a) Air pollution
b) Natural resources
c) Manufactured goods
d) Physical capital

These are people who risk their own money and resources to create a new business or service.
a) governor-general
b) manager
c) secretary-general
d) entrepreneur

This is the part of the economy owned and operated by private citizens.
a) gift shops
b) city hall
c) private sector
d) the military

These are the economic gains of a business, i.e. the money that is made by a business.
a) wages
b) taxes
c) profits
d) quotas

This is the part of the economy owned and operated by the national government.
a) private sector
b) public sector
c) gift shops
d) malls

Australia ranks 18th in the world for human capital investment. What would this statistic indicate?
a) Australia most likely has seen a decline in GDP per capita incomes.
b) Australia most likely has seen no change in GDP per capita incomes.
c) The statistic has no significant meaning in regards to Australia's economy.
d) Australia most likely has seen a rise in GDP per capita incomes.

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