Question 1

Amartya Sen believed that ________ should also be a factor in the human development index.

Accepted Answer

A)   birth rates
B)   political freedom
C)   educational attainment
D)   basic average income
E)   geographical conditionsF) All of the above
G) D) and E)

Question 2

A nation would ________ as part of deregulation efforts.

Accepted Answer

A)   prohibit private enterprises from operating in certain sectors
B)   commit to communism
C)   remove price controls
D)   create a centrally planned economic system
E)   increase restrictions on foreign direct investmentF) B) and E)
G) A) and E)

Question 3

Which of these individuals can be considered an entrepreneur?

Accepted Answer

A)   Sam, an employee at a sporting goods store, is solely responsible for all the purchases and sales at the store.
B)   Joe recycles old household articles to build phones, radios, and other things for his personal use.
C)   Max makes his living by investing in small companies that have the potential to grow.
D)   Shondra started a company that processes plastic bags into fabric used in automobiles.
E)   Ryan invented a hair regrowth formula and sold it to a company that sells several other hair growth products.F) B) and D)
G) A) and E)

Question 4

The collapse of ________ in Eastern Europe was precipitated by the growing gulf between the vibrant and wealthy economies of the West and the stagnant economies of the East.

Accepted Answer

A)   democracy
B)   communism
C)   a free economy
D)   capitalism
E)   privatizationF) A) and C)
G) A) and B)

Question 5

The country of Watoo would be using deregulation efforts if

Accepted Answer

A)   it exercises tight control over the prices of food grains.
B)   the establishment of private enterprises in the steel industry is prohibited by the government.
C)   the retail sector in Watoo is opened for foreign direct investment.
D)   the Watoo government does not have a legal system to safeguard property rights.
E)   Watoo ranks the lowest among the countries that grant both political and economic freedoms to its citizens.F) A) and E)
G) All of the above

Question 6

A strong belief that economic progress leads to adoption of a democratic 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 7

A country's ________ measures the total annual income received by residents of a country and is regarded as a yardstick for the economic activity of a country.

Accepted Answer

A)   income elasticity of demand
B)   gross national product
C)   net cash flow ratio
D)   gross national income
E)   income equity ratioF) C) and D)
G) B) and E)

Question 8

One common measure of economic development is a country's

Accepted Answer

A)   gender ratio.
B)   gross national income.
C)   infant mortality rate.
D)   population density.
E)   total geographical area.F) A) and B)
G) None of the above

Question 9

Describe how the privatization movement began and discuss some of the most dramatic privatization programs that have taken place.

Accepted Answer

The privatization movement started in Gr...

Question 10

During the late 1980s and early 1990s, many of the world's nation-states moved away from

Accepted Answer

A)   democratically elected governments.
B)   free market capitalism.
C)   individualism.
D)   political and civil freedoms.
E)   totalitarian governments.F) A) and B)
G) A) and C)

Question 11

Wood Source Corp. is considering doing business in Central America but is concerned that some governments have been accused of corrupt practices. What aspect of the overall attractiveness of doing business in Central America does this represent?

Accepted Answer

A)   benefits
B)   costs
C)   norms
D)   risks
E)   valuesF) A) and E)
G) A) and D)

Question 12

People in the West tend to associate a(n)  ________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) D) and E)
G) A) and D)

Question 13

Discuss Samuel Huntington's idea of the new world order. What are its implications for international business?

Accepted Answer

The late influential political scientist...

Question 14

Both China and India have achieved high growth rates despite relatively weak property rights regimes and high levels of corruption, because of

Accepted Answer

A)   the shift toward a communist ideology.
B)   their high living standards.
C)   their large population.
D)   their high consumer purchasing power.
E)   the shift toward a market-based economic system.F) A) and B)
G) A) and D)

Question 15

The Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until they relax the property rights offered by their legal systems.

Accepted Answer

A) True 
 B)False

Question 16

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 D)
G) A) and C)

Question 17

Discuss the significance of legal systems in the context of shifting toward a market-based economic system.

Accepted Answer

A well-functioning market economy requir...

Exam 3: National Differences in Economic Development

Economic advances in many countries have led to the

Correct Answer
verified

Both China and India have achieved high growth rates despite relatively weak property rights regimes and high levels of corruption, because of

Correct Answer
verified

The Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until they relax the property rights offered by their legal systems.

Correct Answer
verified

Describe how the privatization movement began and discuss some of the most dramatic privatization programs that have taken place.

Correct Answer
verified
The privatization movement started in Gr...
View Answer

During the late 1980s and early 1990s, many of the world's nation-states moved away from

Correct Answer
verified

Which of these individuals can be considered an entrepreneur?

Correct Answer
verified

Wood Source Corp. is considering doing business in Central America but is concerned that some governments have been accused of corrupt practices. What aspect of the overall attractiveness of doing business in Central America does this represent?

Correct Answer
verified

A country's ________ measures the total annual income received by residents of a country and is regarded as a yardstick for the economic activity of a country.

Correct Answer
verified

Amartya Sen believed that ________ should also be a factor in the human development index.

Correct Answer
verified

Discuss the significance of legal systems in the context of shifting toward a market-based economic system.

Correct Answer
verified
A well-functioning market economy requir...
View Answer

The collapse of ________ in Eastern Europe was precipitated by the growing gulf between the vibrant and wealthy economies of the West and the stagnant economies of the East.

Correct Answer
verified

People in the West tend to associate a(n) ________with a free market system, strong property rights protection, and economic progress.

Correct Answer
verified

Discuss Samuel Huntington's idea of the new world order. What are its implications for international business?

Correct Answer
verified
The late influential political scientist...
View Answer

A nation would ________ as part of deregulation efforts.

Correct Answer
verified

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

Correct Answer
verified

The country of Watoo would be using deregulation efforts if

Correct Answer
verified

One common measure of economic development is a country's

Correct Answer
verified

Exam 3: National Differences in Economic Development

Economic advances in many countries have led to the

Correct AnswerverifiedShow Answer

Both China and India have achieved high growth rates despite relatively weak property rights regimes and high levels of corruption, because of

Correct AnswerverifiedShow Answer

The Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until they relax the property rights offered by their legal systems.

Correct AnswerverifiedShow Answer

Describe how the privatization movement began and discuss some of the most dramatic privatization programs that have taken place.

Correct AnswerverifiedThe privatization movement started in Gr...View AnswerShow Answer

During the late 1980s and early 1990s, many of the world's nation-states moved away from

Correct AnswerverifiedShow Answer

Which of these individuals can be considered an entrepreneur?

Correct AnswerverifiedShow Answer

Wood Source Corp. is considering doing business in Central America but is concerned that some governments have been accused of corrupt practices. What aspect of the overall attractiveness of doing business in Central America does this represent?

Correct AnswerverifiedShow Answer

A country's ________ measures the total annual income received by residents of a country and is regarded as a yardstick for the economic activity of a country.

Correct AnswerverifiedShow Answer

Amartya Sen believed that ________ should also be a factor in the human development index.

Correct AnswerverifiedShow Answer

Discuss the significance of legal systems in the context of shifting toward a market-based economic system.

Correct AnswerverifiedA well-functioning market economy requir...View AnswerShow Answer

The collapse of ________ in Eastern Europe was precipitated by the growing gulf between the vibrant and wealthy economies of the West and the stagnant economies of the East.

Correct AnswerverifiedShow Answer

People in the West tend to associate a(n) ________with a free market system, strong property rights protection, and economic progress.

Correct AnswerverifiedShow Answer

Discuss Samuel Huntington's idea of the new world order. What are its implications for international business?

Correct AnswerverifiedThe late influential political scientist...View AnswerShow Answer

A nation would ________ as part of deregulation efforts.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The country of Watoo would be using deregulation efforts if

Correct AnswerverifiedShow Answer

One common measure of economic development is a country's

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified
The privatization movement started in Gr...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A well-functioning market economy requir...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The late influential political scientist...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified