Question 1

The influential economist Jeffrey Sachs argues that throughout history,which of the following,with their long engagements in international trade,have been the most supportive of market institutions?

Accepted Answer

A)  mountainous states
B)  tropical regions
C)  military societies
D)  landlocked states
E)  coastal statesF) B) and D)
G) A) and B)

Question 2

Economic freedom does not necessarily equate with political freedom.

Accepted Answer

A) True 
 B)False

Question 3

The shift toward deregulation has been easier for former command economies than for mixed economies.

Accepted Answer

A) True 
 B)False

Question 4

In 2014,if the PPP per capita of China was $13,170 and the PPP per capita of the United States was $55,860,this means that the

Accepted Answer

A)  GNI per capita was greater in China.
B)  percent of goods and services consumed in the United States was lower.
C)  standard of living in China was better.
D)  cost of living was lower in China.
E)  annual average GDP growth rate was lower in China.F) A) and C)
G) None of the above

Question 5

In Amartya Sen's view,development is solely an economic process,and not a political process.

Accepted Answer

A) True 
 B)False

Question 6

Countries with which of the following are more likely to attain high and sustained economic growth rates and are thus a more attractive location for international business?

Accepted Answer

A)  weak protection of property rights
B)  democratic regimes
C)  command-based economic policies
D)  ideologies that differ from Western ideologies
E)  totalitarian dictatorshipsF) C) and E)
G) B) and C)

Question 7

Which of the following statements is true about the late influential political scientist Samuel Huntington's vision of the new world?

Accepted Answer

A)  Samuel Huntington maintained that as societies continue modernizing they will also become more Western.
B)  Samuel Huntington theorized that modernization in non-Western societies can result in a retreat toward the traditional.
C)  Samuel Huntington predicted that the universalization of Western liberal democracy will be the final form of human government.
D)  Samuel Huntington envisioned the end of the war of ideas between different civilizations.
E)  Samuel Huntington suggested that most developing countries will stop adopting the material paraphernalia of the modern world.F) A) and D)
G) None of the above

Question 8

The absence of a legal system that protects property rights and the lack of machinery to enforce that system in a market economy usually results in

Accepted Answer

A)  an improvement in the operating efficiency of newly privatized firms.
B)  reduced barriers to foreign direct investment and international trade.
C)  an increase in the incentives to engage in economic activity.
D)  deregulation and privatization of the economy.
E)  the lack of incentive to engage in economic activity.F) All of the above
G) C) and D)

Question 9

Economic advances in many countries have led to the

Accepted Answer

A)  decline of middle and working classes.
B)  rise of totalitarian reforms.
C)  decline of property rights.
D)  emergence of closed and self-contained societies.
E)  emergence of increasingly prosperous middle and working classes.F) A) and B)
G) B) and D)

Question 10

People in the West tend to associate which of the following with a free market system,strong property rights protection,and economic progress?

Accepted Answer

A)  anarchist state
B)  representative democracy
C)  planned economy
D)  communist state
E)  command economyF) B) and C)
G) A) and D)

Question 11

When the industry practice was to charge a fee for each DVD rented by the customer,Netflix pioneered the subscription method,a new way to rent DVDs that was cheaper.This is an example of

Accepted Answer

A)  privatization
B)  economic deregulation
C)  boundary spanning
D)  innovation
E)  benchmarkingF) A) and C)
G) B) and E) D

Question 12

It is more costly to do business in relatively primitive or undeveloped economies because of the lack of infrastructure and supporting businesses.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is broadly defined as the development of new products,processes,organizations,management practices,and strategies?

Accepted Answer

A)  privatization
B)  economic deregulation
C)  boundary spanning
D)  innovation
E)  benchmarkingF) All of the above
G) B) and C) D

Question 14

The collapse of communism will result in the new world order that will be dominated by a universal civilization characterized by democratic regimes and free market capitalism,according to

Accepted Answer

A)  Amartya Sen.
B)  Samuel Huntington.
C)  Jeffrey Sachs.
D)  Francis Fukuyama.
E)  Adam Smith.F) None of the above
G) A) and D) D

Question 15

Why are market economies more conducive to innovation and entrepreneurship than planned or mixed economies?

Accepted Answer

The economic freedom associated with a m...

Question 16

Which of the following statements is true about the global changes in political and economic systems?

Accepted Answer

A)  The West lost the Cold War,and East European communist ideology is now widespread.
B)  A lack of deregulation has been the cause for the global financial crisis of 2008-2009,and the recession that followed.
C)  It is guaranteed that democracy will thrive in most of the world's newer democratic states.
D)  The multipolar world dominated by a number of civilizations of the Cold War era has vanished,and is now being replaced by a bipolar world.
E)  Many of the undeveloped and impoverished national markets of eastern Europe,Latin America,Africa,and Asia are potentially enormous for international business.F) A) and B)
G) C) and E)

Question 17

According to the author Francis Fukuyama,the world is most likely witnessing the end of

Accepted Answer

A)  free market economies.
B)  capitalism.
C)  liberal democracies.
D)  privatization.
E)  humanity's ideological evolution.F) A) and E)
G) A) and D)

Question 18

Which of the following is most likely to indicate that the nation of Erbia has adopted deregulation?

Accepted Answer

A)  The Erbian government exercises tight control over the prices of food grains.
B)  The establishment of private enterprises in steel industry is prohibited by the Erbian government.
C)  The retail sector in Erbia has been opened for foreign direct investment.
D)  The Erbian government has been criticized for its inability to introduce a legal system to safeguard property rights.
E)  Erbia ranks the lowest among the countries that grant both political and economic freedoms to its citizens.F) A) and D)
G) All of the above

Question 19

Star Volans Inc.is planning on expanding its business globally.In terms of the costs involved in conducting business in a country,it will be most economical for the company if it chooses a country

Accepted Answer

A)  with a closed totalitarian political system.
B)  where the company will have to provide its own infrastructure and supporting business.
C)  where laws regarding product safety,safety in the workplace,and environmental pollution are extremely stringent.
D)  where politicians are held accountable by the electorate.
E)  with no local laws to protect intellectual property.F) A) and E)
G) B) and D)

Question 20

Discuss Jeffrey Sachs's conception of geography,education,and economic development.

Accepted Answer

Jeffrey Sachs's point is that by virtue ...

Exam 3: National Differences in Economic Development

The influential economist Jeffrey Sachs argues that throughout history,which of the following,with their long engagements in international trade,have been the most supportive of market institutions?

Correct AnswerverifiedShow Answer

Economic freedom does not necessarily equate with political freedom.

Correct AnswerverifiedShow Answer

The shift toward deregulation has been easier for former command economies than for mixed economies.

Correct AnswerverifiedShow Answer

In 2014,if the PPP per capita of China was $13,170 and the PPP per capita of the United States was $55,860,this means that the

Correct AnswerverifiedShow Answer

In Amartya Sen's view,development is solely an economic process,and not a political process.

Correct AnswerverifiedShow Answer

Countries with which of the following are more likely to attain high and sustained economic growth rates and are thus a more attractive location for international business?

Correct AnswerverifiedShow Answer

Which of the following statements is true about the late influential political scientist Samuel Huntington's vision of the new world?

Correct AnswerverifiedShow Answer

The absence of a legal system that protects property rights and the lack of machinery to enforce that system in a market economy usually results in

Correct AnswerverifiedShow Answer

Economic advances in many countries have led to the

Correct AnswerverifiedShow Answer

People in the West tend to associate which of the following with a free market system,strong property rights protection,and economic progress?

Correct AnswerverifiedShow Answer

When the industry practice was to charge a fee for each DVD rented by the customer,Netflix pioneered the subscription method,a new way to rent DVDs that was cheaper.This is an example of

Correct AnswerverifiedD

It is more costly to do business in relatively primitive or undeveloped economies because of the lack of infrastructure and supporting businesses.

Correct AnswerverifiedShow Answer

Which of the following is broadly defined as the development of new products,processes,organizations,management practices,and strategies?

Correct AnswerverifiedD

The collapse of communism will result in the new world order that will be dominated by a universal civilization characterized by democratic regimes and free market capitalism,according to

Correct AnswerverifiedD

Why are market economies more conducive to innovation and entrepreneurship than planned or mixed economies?

Correct AnswerverifiedThe economic freedom associated with a m...View AnswerShow Answer

Which of the following statements is true about the global changes in political and economic systems?

Correct AnswerverifiedShow Answer

According to the author Francis Fukuyama,the world is most likely witnessing the end of

Correct AnswerverifiedShow Answer

Which of the following is most likely to indicate that the nation of Erbia has adopted deregulation?

Correct AnswerverifiedShow Answer

Star Volans Inc.is planning on expanding its business globally.In terms of the costs involved in conducting business in a country,it will be most economical for the company if it chooses a country

Correct AnswerverifiedShow Answer

Discuss Jeffrey Sachs's conception of geography,education,and economic development.

Correct AnswerverifiedJeffrey Sachs's point is that by virtue ...View AnswerShow Answer

Correct Answer
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D

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D

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D

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The economic freedom associated with a m...
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Jeffrey Sachs's point is that by virtue ...
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