Exploring the Economic Benefits of Foreign Aid for Economically Developed Countr...

Which of the following is true about foreign aid from the US?

The World Bank provides aid by lending money

What is the main benefit for EDCs in the arrangement where the World Bank provides aid to LDCs?

Increased economic growth

What is the main reason for the rapid growth of Newly Industrialized Countries (NICs)?

Investments in human and physical capital

What has been happening to China's GDP over time?

It has been increasing Signup and view all the answers

What has been happening to the rate of growth of the Chinese economy recently?

It has been decreasing Signup and view all the answers

What are the two most common forms of limiting trade?

Tariff and quota Signup and view all the answers

Which organization replaced GATT in 1995?

WTO Signup and view all the answers

What is the main purpose of GATT?

To reduce tariffs and other trade barriers Signup and view all the answers

What is the main purpose of the IMF?

To regulate international money supplies Signup and view all the answers

Which trade agreement started as an alliance of coal and steel interests in 1950?

EU Signup and view all the answers

What is the main purpose of NAFTA?

To reduce tariffs and other trade barriers Signup and view all the answers

What is the role of the WTO?

To negotiate free trade deals Signup and view all the answers

Which one of these is a characteristic of Economically Developed Countries (EDCs)?

Technologically advanced economy Signup and view all the answers

Which one of these is a characteristic of Newly Industrialized Countries (NICs)?

Rapid growth in GDP and GDP per capita Signup and view all the answers

Which one of these is a reason for lower life expectancy in LDCs?

Access to food and healthcare Signup and view all the answers

Which one of these is a characteristic of Least Developed Countries (LDCs)?

Low GDP and GDP per capita Signup and view all the answers

What is one of the major barriers to development in LDCs?

Limited natural resources Signup and view all the answers

What type of economy do LDCs have?

Traditional economy Signup and view all the answers

Which of the following accurately defines the balance of trade?

Exports minus imports Signup and view all the answers

What does the balance of payments measure?

Goods, services, money spent, travel, and investments Signup and view all the answers

What determines the exchange rates?

Supply and demand of money Signup and view all the answers

Where are exchange rates published daily?

Wall Street Journal Signup and view all the answers

What does the equation $0.7437 \times 300$ represent?

Exchange rate of Canadian dollars to US dollars Signup and view all the answers

What does the equation $\text{{Exchange rate}} \times \text{{Cost in Canada}}$ calculate?

Cost of a coat in the US Signup and view all the answers

Which of the following best describes globalization in economic terms?

The interdependence of nations around the globe fostered through free trade. Signup and view all the answers

What is the definition of supply chain?

The network between a company and its suppliers to produce and distribute a specific product to the final buyer. Signup and view all the answers

What is the practice of basing some of a company's processes or services overseas, so as to take advantage of lower costs called?

Offshoring Signup and view all the answers

What is the practice of obtaining goods or services from an outside or foreign supplier, especially in place of an internal source called?

Outsourcing Signup and view all the answers

Which of the following is an example of offshoring?

All of the above. Signup and view all the answers

Which of the following is an example of outsourcing?

IBM hires an Indian company to develop software. Signup and view all the answers