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Exam 3: National Differences in Economic Development

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Question 1

Multiple Choice

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One can adjust GNI per capita by purchasing power to account for differences in the:

A) cost of living.
B) population density.
C) geographical area.
D) factor endowments.
E) labor productivity.

F) A) and B)
G) B) and D)

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Question 2

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In Samuel Huntington's thesis, global terrorism is a product of the tension between civilizations and the clash of value systems and ideology.

A) True
B) False

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Question 3

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

Which of the following creates an environment that is conducive to product and process innovations and to entrepreneurial activity?

The gross national income (GNI) per capita comes much closer to Amartya Sen's conception of how development should be measured than narrow economic measures such as Human Development Index (HDI).

Only a totalitarian regime that is committed to which of the following is capable of promoting economic growth?

How have new information and communication technologies, including the Internet, affected the political economy in general?

The government of Ugania had been extending huge amounts of loans to the business enterprises in the country. However, the borrowers failed to generate the profits necessary to repay their debts. As a result, national banks in Ugania had a lot of nonperforming assets on their books, and the Uganian currency was devalued. In this context, the business enterprises in Ugania are most likely to face which of the following type of risk?

Entrepreneurial individuals have fewer economic incentives to develop valuable new innovations in market economies than in planned economies.

Author Francis Fukuyama envisioned a world split into different civilizations, each of which has its own value systems and ideology.

Which of the following is most likely to prove detrimental to democracy and international business?

In most eastern European nations, the title to urban and agricultural property is often uncertain because of incomplete and inaccurate records, multiple pledges on the same property, and unsettled claims resulting from demands for restitution from owners in the pre-communist era.

"Not all democracies are free, as some still restrict certain political and civil liberties." Which of the following countries best fits this argument?

When social unrest and disorder in a country causes drastic changes in its business environment that adversely affect the profit and other goals of a business enterprise, the business enterprise is said to be facing which of the following type of risk?

The purchasing power parity for different countries is adjusted (up or down) depending upon whether a country's cost of living is lower or higher than the cost of living in the United States.

Economists who argue that innovation and entrepreneurial activity are the engines of long-run economic growth, define innovation broadly to include not just new products but also new processes, new organizations, new management practices, and new strategies.

Black economy is most likely to be prevalent when:

The United Nation of Zorwaya has strict restrictions on direct investment by foreign enterprises, and it opposes the establishment and operation of private enterprises. The highest authority in the country enforces tight control over prices and production output. According to this information, the United Nation of Zorwaya most likely opposes:

In the context of global economy, which of the following has been widely accepted since the late 1980s?

Which of the following of the Cold War era has vanished?