economicsThe ____ is the percentage of the population in an area above the age of 7 that can read and write with understanding.

The ____ is the percentage of the population in an area above the age of 7 that can read and write with understanding.


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    Solution:

    The literacy rate is the percentage of the population in an area above the age of 7 that can read and write with understanding. It is a key as well as indicator of the socioeconomic progress of a country. A country with higher literacy is associated with healthier populations, less crime, more significant economic growth, and higher employment rates. A country with a low literacy rate has higher crime, an unhealthy population and less economic growth. For a person, literacy acts as a foundational skill required to acquire advanced skills. People with higher literacy have higher wages and more employment across labour markets. Similarly, people with low literacy rates do not get higher wages or are eligible for better work.
     
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