Learning Objective: 22-05 Describe how industrial nations attempt to aid low-income countries.
Test Bank: II Topic: The Role of Advanced Nations
The gap in the standardsof living betweenthe IACs (like the U.S., countries of Western Europe,and Japan) and the DVCs of Africa, Latin America,andAsia have been narrowing significantly over the decades.
Learning Objective: 22-01 Describe how the World Bank distinguishes between industrially advancedcountries and developing countries.
Test Bank: I Topic: The Rich and the Poor
Assume a DVC has a real per capita output of $1,000 as compared to $20,000 for an IAC. If both nations realize a 4 percent growth of their real per capita outputs, after oneyearthe absolute real per capitaoutput gap will