Quiz
30 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following factors can foster greater economic development?

  • High GDP
  • Differences in economic development
  • Democratic forms of government (correct)
  • Broader conceptions of development

    • Which countries have high GDP?

  • China and India
  • Japan, Sweden, Switzerland, Australia, and the United States (correct)
  • Advanced nations
  • Developing nations

    • What does Gross Domestic Product (GDP) measure?

  • Total imports and exports of a country
  • Total monetary value of all the finished goods and services produced within a country's borders (correct)
  • Total government spending within a country
  • Total population of a country

    • What does Purchasing Power Parity (PPP) adjust in gross domestic product per capita?

    <p>Differences in cost of living</p> Signup and view all the answers

    What do GDP and PPP data consider?

    <p>Differences in cost of living</p> Signup and view all the answers

    Which countries are currently relatively poor but have rapidly growing economies?

    <p>China and India</p> Signup and view all the answers

    What is the Human Development Index (HDI) used for?

    <p>Measuring quality of human life in different nations</p> Signup and view all the answers

    According to Amartya Sen, what does development require?

    <p>Removal of major impediments to freedom</p> Signup and view all the answers

    Which of the following are factors that can affect how attractive a nation is for doing business?

    <p>Legal systems that better enforce property rights</p> Signup and view all the answers

    What do official figures of economic development often not account for?

    <p>Black economy transactions</p> Signup and view all the answers

    Which of the following is NOT a potential risk associated with doing business internationally?

    <p>Technological risk</p> Signup and view all the answers

    What is a key requirement for privatization to work effectively?

    <p>All of the above</p> Signup and view all the answers

    Which factors are good predictors of a country's economic prospects?

    <p>Property rights regime and education system</p> Signup and view all the answers

    What is the main implication of changing political economy discussed in the text?

    <p>Western ideology becoming less prevalent</p> Signup and view all the answers

    What is one of the benefits of doing business internationally based on the text?

    <p>First-mover advantages</p> Signup and view all the answers

    What is a key requirement for a well-functioning market economy according to the text?

    <p>All of the above</p> Signup and view all the answers

    What is a potential risk mentioned in the text regarding doing business internationally?

    <p>Political risk</p> Signup and view all the answers

    What is a potential implication of changing political economy mentioned in the text?

    <p>Return of totalitarian regimes</p> Signup and view all the answers

    What is a key factor in determining the overall attractiveness of doing business in a country?

    <p>Costs and risks</p> Signup and view all the answers

    What is a key requirement for privatization to guarantee economic growth according to the text?

    <p>Opening of the economy</p> Signup and view all the answers

    Which factor is NOT necessary for innovation and entrepreneurship to thrive in an economy?

    <p>Democratic regime</p> Signup and view all the answers

    What is the main reason why inadequate property protection limits economic growth in developing nations?

    <p>Risk of innovations and potential profits being stolen</p> Signup and view all the answers

    According to economist Hernando de Soto, what is the impact of inadequate property protection on economic growth in developing nations?

    <p>It has a negative impact</p> Signup and view all the answers

    Which type of government is more conducive to long-term economic growth, according to the text?

    <p>Democratic regimes</p> Signup and view all the answers

    What is the relationship between economic growth and the establishment of democratic regimes?

    <p>Economic growth leads to the establishment of democratic regimes</p> Signup and view all the answers

    According to economist Jeffrey Sachs, what is the impact of favorable geography on a country's engagement in trade and market-based systems?

    <p>It has a positive impact</p> Signup and view all the answers

    What is the main reason why countries that invest in education have higher growth rates?

    <p>Their workforce is more productive</p> Signup and view all the answers

    How have countries in Southeast Asia offset their geographical disadvantage?

    <p>By investing in education</p> Signup and view all the answers

    What is the main reason why countries with a young and growing population have a greater growth potential?

    <p>They have a larger workforce</p> Signup and view all the answers

    What has been the trend in terms of government systems since 2005, according to the text?

    <p>A shift towards more authoritarian governments</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser