1. In order to obtain a sense of the true cost of living in a country and in order to compare living standards across countries, economists create comparable figure for a common basket of goods and services purchased with local currency. This figure is called:

Group of answer choices

Purchasing Power Parity

Gross National Income Per Capita

Economic Growth Rate

Gross National Income

Human Development Index

2.

What does the Economic Growth Rate measure?

Group of answer choices

The annual rate of expansion of the Gross National Income

It is a composite indicator that measures economic, political, and health-related changes in society.

The rate of growth of TNCs in a country

The annual rate of expansion of Purchasing Power Parity

The annual rate of expansion for the New York Stock Exchange

3.

Which state has a very low GDP but a very high Human Development Index

Group of answer choices

Japan

The US

India

Cuba

Nigeria

4. The close connections between Duluth and Minneapolis that exist because of highway of 35W and the large amount of traffic between these two places is referred to by what term?

Group of answer choices

Areal Integration

Areal Differentiation

None of the Above

Geometric Boundaries

Colonialism