ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The higher the literacy rates the lower the standard of living.
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The higher the standard of living the lower the literacy rate.
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The higher the literacy rates the higher the standard of living.
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The lower the literacy rates the higher the standard of living.
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Detailed explanation-1: -Countries with a high literacy rate usually have a high GDP per capita. Nations with low GDP frequently have lower literacy rates since the people in that country have less access to education, and children often have to work to help support the family. There are exceptions to this rule, like Russia.
Detailed explanation-2: -The literacy rate is defined by the percentage of the population of a given age group that can read and write.
Detailed explanation-3: -It will reduce the occupational immobility of labor and will also improve the employability of the labor supply. Unskilled labors are seasonally employed, mainly in agricultural fields, and paid minimal wages. Imbibing skills in these workers will ensure them more permanent jobs and higher wage rates.
Detailed explanation-4: -Definition: The proportion of the adult population aged 15 years and over which is literate, expressed as a percentage of the corresponding population, total or for a given sex, in a given country, territory, or geographic area, at a specific point in time, usually mid-year.
Detailed explanation-5: -The factors affecting literacy include spread of economy, level of urbanization, standard of living, racial structure, condition of women in society, price mechanism, availability of educational facilities, development of modes of transport and communication, level of technology and public policies.