Download Comparing Economic Systems

Comparing Economic Systems
The United States Central Intelligence Agency’s The World Factbook website is an
excellent source of information about every country. Go to
http://www.cia.gov/cia/publications/factbook/index.html for assistance in completing
this chart. (Information in the CIA World Factbook is updated constantly. These were
the answers on October 1, 2007.)
Canada
Japan
Jamaica
<catch ANS>
<catch ANS>
<catch ANS> 73.12
80.34 years
82.02 <end
years <end ANS>
<end ANS>
ANS>
<catch ANS>
<catch ANS>
<catch ANS>
99% <end
99% <end
87.9% <end ANS>
ANS>
ANS>
<catch ANS>
<catch
<catch ANS> The
The leader of
ANS>Diet
leader of the
the majority
designates
majority party or
party or the
prime minister;
the leader of the
leader of the
constitution
majority coalition
majority
requires that
in the House of
coalition in the
prime minister
Representatives is
Population
Life Expectancy at birth
Literacy Rate
Government
How are leaders elected?
House of
commands
appointed prime
Commons is
parliamentary
minister by the
automatically
majority;
governor general
designated
following
<end ANS>
prime minister
legislative
by the governor
elections,
general <end
leader of
ANS>
majority party
or leader of
majority
coalition in
House of
Representatives
usually
becomes prime
minister <end
ANS>
Military Spending as % of
<catch ANS>
<catch ANS>
<catch ANS> 0.6%
GDP
1.1% <end
0.8% <end
<end ANS>
ANS>
ANS>
What is the most serious
<catch ANS>
<catch ANS>
<catch ANS> The
economic problem facing
An affluent,
Japan's
economy faces
Economy
this country?
high-tech
industrial
serious long-term
industrial
sector is
problems: high but
society in the
heavily
declining interest
trillion dollar
dependent on
rates, increased
class, Canada
imported raw
foreign
resembles the
materials and
competition,
US in its
fuels. The tiny
exchange rate
market-oriented
agricultural
instability, a sizable
economic
sector is highly
merchandise trade
system, pattern
subsidized and
deficit, large-scale
of production,
protected.
unemployment and
and affluent
Usually self
underemployment,
living standards
sufficient in
and a high debt
<end ANS>
rice, Japan
burden - the result
must import
of government
about 60% of
bailouts to ailing
its food on a
sectors of the
caloric basis.
economy <end
Growth slowed
ANS>
markedly in the
1990s,
averaging just
1.7%, largely
because of the
after effects of
overinvestment
and an asset
price bubble
during the late
1980s that
required a
protracted
period of time
for firms to
reduce excess
debt, capital,
and labor.
From 2000 to
2001,
government
efforts to
revive
economic
growth proved
short-lived and
were hampered
by the slowing
of the US,
European, and
Asian
economies. In
2002-06,
growth
improved and
the lingering
fears of
deflation in
prices and
economic
activity
lessened.
Japan's huge
government
debt, which
totals 176% of
GDP, and the
aging of the
population are
two major
long-run
problems.
Some fear that
a rise in taxes
could endanger
the current
economic
recovery. <end
ANS>
Gross Domestic Product
<catch ANS>
<catch ANS>
<catch ANS>
per capita
$35,700 <end
$33,100 <end
$4,700 <end ANS>
ANS>
ANS>
Gross Domestic Product –
<catch ANS>
<catch ANS>
<catch ANS> 2.5%
real growth percentage
2.8% <end
2.2% <end
<end ANS>
ANS>
ANS>
What percentage of the
<catch ANS>
<catch ANS>
<catch ANS>
population works in
2% <end ANS>
4.6% <end
18.1% <end ANS>
agriculture?
ANS>
What percentage of the
<catch ANS>
<catch ANS>
<catch ANS>
population works in
22% <end
27.8% <end
17.3% <end ANS>
manufacturing?
ANS>
ANS>
What percentage of the
<catch ANS>
<catch ANS>
<catch ANS>
population works in
75% <end
67.7% <end
64.6% <end ANS>
services?
ANS>
ANS>
Population below the
<catch ANS>
<catch ANS>
<catch ANS>
poverty line
15.9% <end
Unknown <end
14.8% <end ANS>
ANS>
ANS>
<catch ANS>
<catch ANS>
<catch ANS>
wheat, barley,
rice, sugar
sugarcane, bananas,
Agriculture – Products
Major Industries
oilseed, tobacco, beets,
coffee, citrus,
fruits,
vegetables,
yams, ackees,
vegetables;
fruit; pork,
vegetables; poultry,
dairy products;
poultry, dairy
goats, milk;
forest products;
products, eggs;
crustaceans,
fish <end ANS>
fish <end
mollusks <end
ANS>
ANS>
<catch ANS>
<catch ANS>
<catch ANS>
transportation
motor vehicles,
tourism,
equipment,
electronic
bauxite/alumina,
chemicals,
equipment,
agro processing,
processed and
machine tools,
light manufactures,
unprocessed
steel and
rum, cement, metal,
minerals, food
nonferrous
paper, chemical
products, wood
metals, ships,
products,
and paper
chemicals,
telecommunications
products, fish
textiles,
<end ANS>
products,
processed
petroleum and
foods <end
natural gas <end
ANS>
ANS>
Exports
Export Partners by %
<catch ANS>
<catch ANS>
<catch ANS>
$405 billion
$590.3 billion
$2.087 billion <end
<end ANS>
<end ANS>
ANS>
<catch ANS>
<catch ANS>
<catch ANS> US
US 84.2%,
US 22.8%,
25.8%, Canada
Japan 2.1%, UK
China 14.3%,
19.3%, UK 10.7%
1.8% <end
South Korea
<end ANS>
ANS>
7.8% <end
ANS>
Imports
Import Partners by %
Internet country code
<catch ANS>
<catch ANS>
<catch ANS>
$353.2 billion
$524.1 billion
$4.682 billion <end
<end ANS>
<end ANS>
ANS>
<catch ANS>
<catch ANS>
<catch ANS> US
US 56.7%,
China 20.5%,
41.4%, Trinidad
China 7.8%,
US 12%, Saudi
and Tobago 14%,
Mexico 3.8%
Arabia 6.4%
Venezuela 5.5%
<end ANS>
<end ANS>
<end ANS>
<catch ANS>
<catch ANS>
<catch ANS> .jm
.ca <end ANS>
.jp <end ANS>
<end ANS>
Internet users
<catch ANS>
<catch ANS>
<catch ANS> 1.067
21.9 million
87.54 million
million <end ANS>
<end ANS>
<end ANS>
1. What percentage of the population of each country is in the labor force?
<catch ANS> Canada 52.7%; Jamaica 39.6%; Japan 52.1%<end ANS>
2. What are the similarities and differences between the three countries in terms of
the population that works in each type of industry?
<catch ANS> Canada has less than half as many agricultural workers as Japan as a
percentage of workers even though it is a major food exporter. A far greater
proportion of the Jamaican population is engaged in food production. Japan has a
significantly greater percentage of workers engaged in industry. Canada has the
highest percentage of service workers. <end ANS>
3. Why might some products appear on both a country’s import and export list.
Provide an example to explain your answer.
<catch ANS> Japan imports and exports chemicals. Jamaica exports sugar, bananas,
coffee, yams, and beverages but also imports food. Canada imports and exports motor
vehicles and electricity. Canadian consumers can choose any make and model of car
they want but not every make and model is produced in Canada. Car plants in the
United States and Mexico specialize in certain makes and models so excess Canadian
Chevrolets are sent to the United States for Honda Civics. <end ANS>
4. Exports and imports total in the billions of dollars for each country. Explain what
this tells you about our society.
<catch ANS> Modern industrial nations tend to specialize in areas where they hold
the greatest competitive advantages. Trading accentuates the benefits to producers
and consumers on both sides of the border. <end ANS>