Question 1

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

Accepted Answer

A)   They have led to the spread of communism.
B)   They have reduced a state's ability to control access to uncensored information.
C)   They have led to the collapse of democracy.
D)   They have created new conduits for the spread of closed societies.
E)   They have led to increased suppression of political and economic freedoms.F) C) and E)
G) B) and E)

Question 2

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 3

A country with ________ is more likely to attain high and sustained economic growth rates and is a more attractive location for international business.

Accepted Answer

A)   weak protection of property rights
B)   a democratic regime
C)   command-based economic policies
D)   ideologies that differ from Western ideologies
E)   a totalitarian dictatorshipF) D) and E)
G) None of the above

Question 4

Advances in technology and communication have fostered the growth of democratic ideals.

Accepted Answer

A) True 
 B)False

Question 5

It is predicted that China will surpass the United States and become the world's largest national economy within the next two decades.

Accepted Answer

A) True 
 B)False

Question 6

________ is broadly defined as the development of new products, processes, organizations, management practices, and strategies.

Accepted Answer

A)   Privatization
B)   Dynamism
C)   Demographics
D)   Innovation
E)   BenchmarkingF) C) and E)
G) C) and D)

Question 7

State-owned enterprises still dominate the banking and health care industries in China.

Accepted Answer

A) True 
 B)False

Question 8

The deregulation of an economy involves

Accepted Answer

A)   increasing restrictions on direct investment by foreign enterprises and international trade.
B)   privatizing state-owned enterprises.
C)   exercising a high degree of state control over production and pricing.
D)   abolishing laws related to the protection of property rights.
E)   opposing democracy by adopting communism.F) A) and C)
G) A) and D)

Question 9

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

Accepted Answer

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

Question 10

The country of Jinret is classified as having low human development (the quality of life is poor) . This means its HDI is

Accepted Answer

A)   a score of less than 0.5 on the HDI scale.
B)   around 6.0.
C)   greater than 5.0 but less than 7.0.
D)   around 80.
E)   in the bottom 60 percentile.F) B) and D)
G) None of the above

Question 11

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.

Accepted Answer

A) True 
 B)False

Question 12

When considering the cost of doing business in another country, what would be considered the most attractive market or investment site?

Accepted Answer

A)   a country that has adopted a closed totalitarian state
B)   a country that has a well-developed body of business contract law
C)   a country with a command-based economic system
D)   a country with stringent product safety laws and huge liability insurance rates
E)   a country which does not provide any protection for property rightsF) B) and E)
G) None of the above

Question 13

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 14

Recent global changes in political and economic systems show that

Accepted Answer

A)   East European communist ideology is now widespread.
B)   a lack of deregulation was the cause for the global financial crisis of 2008-2009.
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 undeveloped and impoverished national markets of eastern Europe, Latin America, Africa, and Asia are potentially enormous for international business.F) A) and C)
G) A) and E)

Question 15

Francis Fukuyama promoted the idea that Western liberal democracy would be the final form of human government and lead to a harmonious world.

Accepted Answer

A) True 
 B)False

Question 16

Gross national income is a measure of the monthly income received by residents of a nation.

Accepted Answer

A) True 
 B)False

Question 17

The country of Marita ensures strong legal protection of property rights. It is likely that the businesses and individuals in Marita will

Accepted Answer

A)   want to invest more in innovations.
B)   avoid privatization.
C)   face more corruption.
D)   avoid entrepreneurial activity.
E)   be faced with a higher tax debt.F) All of the above
G) C) and D)

Question 18

What started in Great Britain in the early 1980s when Prime Minister Margaret Thatcher started to sell state-owned assets such as the British telephone company?

Accepted Answer

A)   nationalization
B)   privatization
C)   antidemocratic government
D)   communism
E)   antiglobalizationF) C) and E)
G) A) and B)

Question 19

To calculate purchasing power parity, the figure is adjusted based on

Accepted Answer

A)   the trading value of gold in the exchange market.
B)   the median cost of living in the top five economic nations.
C)   the status of the cost of living in the United States
D)   average daily exchange rates in the selected nation.
E)   limits set by each nation's government.F) A) and D)
G) All of the above

Question 20

When considering the economic prospects of a country, it can be said that

Accepted Answer

A)   the economic system and property rights regime are reasonably good predictors of economic prospects of a country.
B)   countries with command economies tend to achieve greater economic growth rates than free market economies.
C)   countries which do not have property rights protection tend to achieve greater economic growth rates.
D)   countries where property rights are not well respected and where corruption is rampant always have very low levels of economic growth.
E)   the advantages of building brand loyalty and gaining experience in a country's business practices is greater for a last-mover than for a first-mover.F) A) and B)
G) A) and D)

Exam 3: National Differences in Economic Development

The country of Marita ensures strong legal protection of property rights. It is likely that the businesses and individuals in Marita will

Correct AnswerverifiedShow Answer

State-owned enterprises still dominate the banking and health care industries in China.

Correct AnswerverifiedShow Answer

________ is broadly defined as the development of new products, processes, organizations, management practices, and strategies.

Correct AnswerverifiedShow Answer

What started in Great Britain in the early 1980s when Prime Minister Margaret Thatcher started to sell state-owned assets such as the British telephone company?

Correct AnswerverifiedShow Answer

To calculate purchasing power parity, the figure is adjusted based on

Correct AnswerverifiedShow Answer

Francis Fukuyama promoted the idea that Western liberal democracy would be the final form of human government and lead to a harmonious world.

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

The country of Jinret is classified as having low human development (the quality of life is poor) . This means its HDI is

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

The deregulation of an economy involves

Correct AnswerverifiedShow Answer

When considering the cost of doing business in another country, what would be considered the most attractive market or investment site?

Correct AnswerverifiedShow Answer

A country with ________ is more likely to attain high and sustained economic growth rates and is a more attractive location for international business.

Correct AnswerverifiedShow Answer

Gross national income is a measure of the monthly income received by residents of a nation.

Correct AnswerverifiedShow Answer

Advances in technology and communication have fostered the growth of democratic ideals.

Correct AnswerverifiedShow Answer

It is predicted that China will surpass the United States and become the world's largest national economy within the next two decades.

Correct AnswerverifiedShow Answer

When considering the economic prospects of a country, it can be said that

Correct AnswerverifiedShow Answer

Recent global changes in political and economic systems show that

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

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

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