Individuals and Institutions
GED Social Studies · Learn by Concept
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GED Social Studies › Individuals and Institutions
New York State wishes to encourage new businesses to come and open in many small towns in Northern New York, so it plans to offer __________ to provide cheaper land and lower taxes for start-up companies.
incentives
moralizers
justifications
abstracts
edicts
Explanation
An "incentive" is some advantage (lower taxes, cheaper land, access to resources or market, etc.) that a government can offer to a business or a type of businesses to encourage the growth and spread of business in their area.
The degree or intensity of wealth and material comfort experienced by a group of people is referred to as __________.
the standard of living
gross national product
the Consumer Price Index
the Reverse-Income Effect
the Butterfly Effect
Explanation
The Standard of Living in a country, or region, refers to the quality of life, material wealth, and comfort experienced by the people living there. America and Europe have comparatively high standards of living, while the majority of Africa and Asia have comparatively low standard of living.