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12 Questions

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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?

It is viewed positively when focusing on developing internal economies before competing globally Signup and view all the answers

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

Government intervention in markets to increase domestic manufactures Signup and view all the answers

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

A country's wealth is increased by maintaining a positive balance of trade Signup and view all the answers

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

Rewards for building or buying new ships and for long-distance voyages Signup and view all the answers

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

Steps that the young country should take to secure its economy, especially in opposition to the economic might of other countries Signup and view all the answers

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

Encouraging states to utilize their human resources for agricultural and manufactured products Signup and view all the answers

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

Exporting more manufactured products, importing more raw materials, and consuming more tropical commodities Signup and view all the answers

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

Implementation of economic nationalism despite its negative impact on citizens and governments Signup and view all the answers

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

To increase the country’s self-sufficiency, wealth, and security Signup and view all the answers