- The literacy rate compares the percentage of people who can read and write to the percentage of people who are not able to.
- Education expenditures are made because of government funds.
- Literacy Rate and Education Expenditures:
- In Australia, around 2011, there was 5.1% of GDP of education expenditures. Its literacy rate is 99%. In the United States, around 2011, there was 5.2% of GDP of education expenditures. It also has a literacy rate of 99%. With more educated people leads to might having more entrepreneurs who want to start a business with their new ideas. This provides more jobs for people which also increases the GDP. With a higher GDP leads to expansion which also leads to economic growth for the betterment of the economies. Overall all, Australia’s GDP of education expenditure is very close to United States’s GDP of education expenditure which results to both of the countries having similar results.