Question 1

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) C) and D)
G) A) and D)

Question 2

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 B)
G) B) and E)

Question 3

Describe Amartya Sen's conceptions of development.

Accepted Answer

The Nobel Prize-winning economist Amarty...

Question 4

When Galaxy Ventures, a real estate company, entered the low cost housing business, the market was already saturated with other players. Thus, the company was forced to exit the market due to lack of customer loyalty and substantial dividends. Which of the following is a term used to described the situation faced by the company?

Accepted Answer

A)  First-mover disadvantages
B)  Last-mover disadvantages
C)  Last-in first-out disadvantages
D)  Comparative disadvantages
E)  Absolute disadvantagesF) D) and E)
G) C) and D)

Question 5

Which of the following creates an unfavorable environment for innovations and entrepreneurship?

Accepted Answer

A)  Market economy
B)  Economic freedom
C)  State monopoly in production
D)  Privatization
E)  Strong legal protection of property rightsF) A) and D)
G) All of the above

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

In economic terms, the long-run monetary benefits of doing business in a country are most likely to be a function of the:

Accepted Answer

A)  gender ratio of the country.
B)  latitudinal and the longitudinal location of the country.
C)  natural resources available in the country.
D)  present wealth (purchasing power)  of consumers of the country.
E)  political history of the country.F) B) and E)
G) B) and C)

Question 8

The belief that geography can influence economic policy, and hence economic growth rates, goes back to:

Accepted Answer

A)  Adam Smith.
B)  Amartya Sen.
C)  Plato.
D)  Aristotle.
E)  Karl Marx.F) C) and D)
G) D) and E)

Question 9

In 2012, if the PPP per capita of China was $9,040 and the PPP per capita of the United States was $52,340, 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) A) and B)

Question 10

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) None of the above
G) B) and C)

Question 11

The government of Nerumbia wants to open the country's economy to international business, and increase its overall attractiveness as a potential market or investment site. Which of the following will facilitate this decision of the Nerumbian government?

Accepted Answer

A)  Shifting toward command economy or an economy where property rights are not enforced strictly
B)  Investing in infrastructure and in the required supporting businesses
C)  Frequently changing the government and the government policies
D)  Maintaining a high inflation rate
E)  Adopting a legal system which does not provide any protection for intellectual property rightsF) A) and B)
G) B) and C)

Question 12

The work by Jeffrey Sachs suggests that investments in which of the following help explain why some countries in Southeast Asia have been able to overcome the disadvantages associated with their tropical geography and grow far more rapidly than tropical nations in Africa and Latin America?

Accepted Answer

A)  Nuclear weapons
B)  Education
C)  Terrorist activities
D)  Nationalization of private properties
E)  Active barteringF) A) and B)
G) A) and C)

Question 13

Which of the following factors in a country is most likely to cause political risk for an international business?

Accepted Answer

A)  The presence of more than one ethnic nationality
B)  Infrequent changes in government and government policy
C)  Low inflation rate
D)  Low level of government debt
E)  High living standardsF) B) and D)
G) C) and D)

Question 14

A strong belief that economic progress leads to adoption of a totalitarian regime underlies the fairly permissive attitude that many Western governments have adopted toward human rights violations in China.

Accepted Answer

A) True 
 B)False

Question 15

In general, command and mixed economies failed to deliver the kind of sustained economic performance that was achieved by countries adopting market-based systems.

Accepted Answer

A) True 
 B)False

Question 16

List the three measures on which the Human Development Index (HDI) is based.

Accepted Answer

Amartya Sen's influential thesis has bee...

Question 17

What changes have occurred in the political economy of most of the world's nation-states since the late 1980s?

Accepted Answer

The political economy of many of the wor...

Question 18

The Human Development Index comes close to Amartya Sen's conception of how development should be measured, although which of the following, suggested by Sen in his thesis, is not included in the index?

Accepted Answer

A)  Basic health care
B)  Political freedom
C)  Educational attainment
D)  Basic average income
E)  Life expectancy at birthF) B) and D)
G) C) and D)

Question 19

The government of Great Lanthania is planning to adopt a market-based economic system. To be able to do so, the government of this country should:

Accepted Answer

A)  abolish the laws that deal with protection of property rights.
B)  introduce stringent foreign investment regulations.
C)  increase its intervention in the economy.
D)  adopt privatization.
E)  oppose democracy.F) B) and D)
G) A) and D)

Question 20

What are the various reasons that account for the spread of democracy?

Accepted Answer

Three main reasons account for the sprea...

Exam 3: National Differences in Economic Development

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

Correct Answer
verified

The government of Great Lanthania is planning to adopt a market-based economic system. To be able to do so, the government of this country should:

Correct Answer
verified

The belief that geography can influence economic policy, and hence economic growth rates, goes back to:

Correct Answer
verified

List the three measures on which the Human Development Index (HDI) is based.

Correct Answer
verified
Amartya Sen's influential thesis has bee...
View Answer

The government of Nerumbia wants to open the country's economy to international business, and increase its overall attractiveness as a potential market or investment site. Which of the following will facilitate this decision of the Nerumbian government?

Correct Answer
verified

Economic advances in many countries have led to the:

Correct Answer
verified

Describe Amartya Sen's conceptions of development.

Correct Answer
verified
The Nobel Prize-winning economist Amarty...
View Answer

What changes have occurred in the political economy of most of the world's nation-states since the late 1980s?

Correct Answer
verified
The political economy of many of the wor...
View Answer

In 2012, if the PPP per capita of China was $9,040 and the PPP per capita of the United States was $52,340, this means that the:

Correct Answer
verified

The work by Jeffrey Sachs suggests that investments in which of the following help explain why some countries in Southeast Asia have been able to overcome the disadvantages associated with their tropical geography and grow far more rapidly than tropical nations in Africa and Latin America?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

In economic terms, the long-run monetary benefits of doing business in a country are most likely to be a function of the:

Correct Answer
verified

Which of the following factors in a country is most likely to cause political risk for an international business?

Correct Answer
verified

A strong belief that economic progress leads to adoption of a totalitarian regime underlies the fairly permissive attitude that many Western governments have adopted toward human rights violations in China.

Correct Answer
verified

What are the various reasons that account for the spread of democracy?

Correct Answer
verified
Three main reasons account for the sprea...
View Answer

The Human Development Index comes close to Amartya Sen's conception of how development should be measured, although which of the following, suggested by Sen in his thesis, is not included in the index?

Correct Answer
verified

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

Correct Answer
verified

Which of the following creates an unfavorable environment for innovations and entrepreneurship?

Correct Answer
verified

In general, command and mixed economies failed to deliver the kind of sustained economic performance that was achieved by countries adopting market-based systems.

Correct Answer
verified

Exam 3: National Differences in Economic Development

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

Correct AnswerverifiedShow Answer

The government of Great Lanthania is planning to adopt a market-based economic system. To be able to do so, the government of this country should:

Correct AnswerverifiedShow Answer

The belief that geography can influence economic policy, and hence economic growth rates, goes back to:

Correct AnswerverifiedShow Answer

List the three measures on which the Human Development Index (HDI) is based.

Correct AnswerverifiedAmartya Sen's influential thesis has bee...View AnswerShow Answer

The government of Nerumbia wants to open the country's economy to international business, and increase its overall attractiveness as a potential market or investment site. Which of the following will facilitate this decision of the Nerumbian government?

Correct AnswerverifiedShow Answer

Economic advances in many countries have led to the:

Correct AnswerverifiedShow Answer

Describe Amartya Sen's conceptions of development.

Correct AnswerverifiedThe Nobel Prize-winning economist Amarty...View AnswerShow Answer

What changes have occurred in the political economy of most of the world's nation-states since the late 1980s?

Correct AnswerverifiedThe political economy of many of the wor...View AnswerShow Answer

In 2012, if the PPP per capita of China was $9,040 and the PPP per capita of the United States was $52,340, this means that the:

Correct AnswerverifiedShow Answer

The work by Jeffrey Sachs suggests that investments in which of the following help explain why some countries in Southeast Asia have been able to overcome the disadvantages associated with their tropical geography and grow far more rapidly than tropical nations in Africa and Latin America?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In economic terms, the long-run monetary benefits of doing business in a country are most likely to be a function of the:

Correct AnswerverifiedShow Answer

Which of the following factors in a country is most likely to cause political risk for an international business?

Correct AnswerverifiedShow Answer

A strong belief that economic progress leads to adoption of a totalitarian regime underlies the fairly permissive attitude that many Western governments have adopted toward human rights violations in China.

Correct AnswerverifiedShow Answer

What are the various reasons that account for the spread of democracy?

Correct AnswerverifiedThree main reasons account for the sprea...View AnswerShow Answer

The Human Development Index comes close to Amartya Sen's conception of how development should be measured, although which of the following, suggested by Sen in his thesis, is not included in the index?

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

Which of the following creates an unfavorable environment for innovations and entrepreneurship?

Correct AnswerverifiedShow Answer

In general, command and mixed economies failed to deliver the kind of sustained economic performance that was achieved by countries adopting market-based systems.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Amartya Sen's influential thesis has bee...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The Nobel Prize-winning economist Amarty...
View Answer

Correct Answer
verified
The political economy of many of the wor...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Three main reasons account for the sprea...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified