Economic Policies in 1664

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Questions and Answers

What was the aim of Nyerere's ujamaa policy?

  • To industrialize Tanzania rapidly
  • To promote 'familyhood' and self-reliance (correct)
  • To increase Tanzania's dependence on aid
  • To integrate Tanzania into the global market

Why did Nyerere's policy of collective farms fail?

  • They were too dependent on foreign aid
  • They were unproductive (correct)
  • They hindered Tanzania's integration into the global market
  • They were not supported by developing countries

Which economic theory aligns with the emphasis on states producing for their own basic needs?

  • Globalization and free trade
  • Mercantilism
  • Import substitution industrialization (correct)
  • Export-led growth

What does the text imply about economic nationalism in developing countries?

<p>It is viewed positively when focusing on developing internal economies before competing globally (D)</p> Signup and view all the answers

Which of the following was advocated by Thomas Mun and Alexander Hamilton?

<p>Government intervention in markets to increase domestic manufactures (A)</p> Signup and view all the answers

What was the main argument put forward by Thomas Mun in defense of mercantilism?

<p>A country's wealth is increased by maintaining a positive balance of trade (B)</p> Signup and view all the answers

What did Colbert advocate to encourage French traders to sell goods widely?

<p>Rewards for building or buying new ships and for long-distance voyages (A)</p> Signup and view all the answers

What did Alexander Hamilton outline in his Report on Manufactures to Congress?

<p>Steps that the young country should take to secure its economy, especially in opposition to the economic might of other countries (B)</p> Signup and view all the answers

What was Friedrich List's emphasis in extending Hamilton's argument?

<p>Encouraging states to utilize their human resources for agricultural and manufactured products (D)</p> Signup and view all the answers

What does Friedrich List argue is crucial for a nation's wealth and power?

<p>Exporting more manufactured products, importing more raw materials, and consuming more tropical commodities (C)</p> Signup and view all the answers

What was T.E. Gregory's criticism of economic nationalism?

<p>Implementation of economic nationalism despite its negative impact on citizens and governments (D)</p> Signup and view all the answers

According to Hamilton, what was the purpose of employing machines?

<p>To increase the country’s self-sufficiency, wealth, and security (D)</p> Signup and view all the answers

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