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Economic Recovery and Growth in the 20th Century

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Economic Recovery and Growth in the 20th Century

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Questions and Answers

What are commodities characterized by?

Being raw materials (correct)

Having fluctuating prices

Non-interchangeable

Highly customized and unique

During the 1950s-1970s, many African countries experienced economic growth primarily due to:

Commodity booms in sectors such as natural resources (correct)

Access to better healthcare services

Increased emphasis on technological innovation

Diversification of their economies

What was a significant factor contributing to Africa's poor economic performance in the mid-1970s to 1980s?

Rapid industrialization

Strong government intervention in the economy

High levels of foreign direct investment

Overreliance on primary commodities and lack of diversification (correct)

What characterized the Debt Crisis and structural adjustment period in Africa in the late 1980s to early 1990s?

Implementation of structural adjustment programs Signup and view all the answers

What contributed to Africa's economic recovery from the mid-1990s to 2015?

Market liberalization and policy reforms Signup and view all the answers

What major factor contributed to Africa's poor economic performance in 2016?

Droughts in southern Africa Signup and view all the answers

How did fiscal problems impact economic growth in Africa?

Reduced investments due to increased costs of borrowing Signup and view all the answers

What was a major consequence of the 2016 GDP drop in Sub-Saharan Africa?

Growth affected in 2/3 of Sub-Saharan Africa Signup and view all the answers

How did China's slowing growth rate impact African economies?

Led to reduced trade and investments with Africa Signup and view all the answers

What contributed to the drop in GDP growth despite Foreign Direct Investments (FDIs)?

Growing deficits and fiscal problems Signup and view all the answers

What external factor negatively affected Africa's economic growth due to uncertainties?

Brexit referendum result from the UK Signup and view all the answers

What is one of the key measures of economic growth mentioned in the text?

Gross National Income (GNI) Signup and view all the answers

How did the issue of 'Urban Bias' contribute to Africa's poor economic performance as discussed in the text?

Favoring large urban areas while neglecting other regions Signup and view all the answers

Which dimension is NOT part of the Human Development Index (HDI) as mentioned in the text?

Agricultural productivity Signup and view all the answers

What external factor impacted Africa's economic performance according to the text?

Soviet Union trying to pay off debt Signup and view all the answers

What was a significant challenge leading to Africa's poor economic performance as discussed in the text?

Overreliance on primary commodities and lack of diversification Signup and view all the answers

What did the GDP graph reveal about Africa's economic growth over time?

Fluctuations in economic growth during the 1980s and 1990s Signup and view all the answers