Question 1

The German law guarantees free unregulated private enterprise.

Accepted Answer

A) True 
 B)False

Question 2

Why does HDI provide a more comprehensive view of a country's development compared to the GDP?

Accepted Answer

GDP and purchasing power provide indicat...

Question 3

Chinese economic statistics are often regarded with a degree of skepticism, as it is unclear as to where the numbers have originated from or how they have been derived.

Accepted Answer

A) True 
 B)False

Question 4

In the Human Development Index, _____ is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrollment ratio.

Accepted Answer

The answer of In the Human Development Index, _____ is...

Question 5

Gross domestic product per person refers to:

Accepted Answer

A)   the total GDP divided by the population of the country.
B)   the nominal per capita GDP of a country in a particular year.
C)   the value of the GDP adjusted for purchasing power.
D)   an economic theory that adjusts the exchange rate between countries to ensure that a good is purchased for the same price in the same currency.
E)   the measurement of a country's average achievements in health, knowledge, and a decent standard of living.F) A) and D)
G) A) and E)

Question 6

The economic turbulence of the post-Gorbachev period led to the Yeltsin government instituting a series of economic measures. One of them was to galvanize the economy by:

Accepted Answer

A)   scrapping military expenditure and diverting money to fund economic reforms.
B)   encouraging unrestricted imports and banning exports.
C)   allowing the takeover of the Russian industries by the western multinational companies.
D)   reducing state interference in the private sector.
E)   reducing barriers to free trade.F) C) and E)
G) C) and D)

Question 7

In the Human Development Index, health is measured by _____ at birth.

Accepted Answer

The answer of In the Human Development Index, health is...

Question 8

"Fourth World" was a term coined after World War II which referred to:

Accepted Answer

A)   the unknown nations (cultural entities)  of indigenous peoples living within or across national state boundaries.
B)   the states that aligned with neither the democratic-industrial countries nor with the communist-socialist states.
C)   the Eastern bloc of the communist-socialist states.
D)   the bloc of democratic-industrial countries within the American influence sphere.
E)   the bloc of nations that had been colonial powers and wielded a great deal of economic and political power.F) C) and D)
G) A) and B)

Question 9

What was the Real Plan that was launched by the Brazilian government in 1994?

Accepted Answer

In the 1990s, the government honed in on...

Question 10

Nigeria pulled out of the IMF program in 2002 because:

Accepted Answer

A)   the economic and political elite of Nigeria wanted an independent economy unregulated by the whims and fancies of the IMF.
B)   the developed countries of the world pressed for its ouster on charges of massive violation of human rights by the Nigerian military dictatorship.
C)   it failed to meet the economic reform requirements, specifically failing to meet spending and exchange rate targets.
D)   it refused to accord the MFN status to the rest of the members of the IMF as it did to South Africa which was a violation of IMF statutes.
E)   it insisted on additional loans from the IMF even though it was defaulting on the repayment of the earlier loans.F) A) and D)
G) C) and D)

Question 11

One of the primary purposes of the EU was:

Accepted Answer

A)   to establish a common financial denomination for the whole world.
B)   to bar non-European countries from trading with the European countries.
C)   to transform Europe and Asia into a single political and administrative unit.
D)   to create a single market for business and workers accompanied by a single currency, the euro.
E)   to use it as a platform to further Europe's military and political goals.F) A) and B)
G) B) and E)

Question 12

Perestroika refers to the:

Accepted Answer

A)   Soviet policy of disallowing trade in consumer durables with multinational companies based in the United States.
B)   establishment of trade blocs in Europe and according the MFN status to the members of the Soviet Union.
C)   takeover of the Soviet economic and financial system by the European Union.
D)   recommendations of the American financial experts in the Soviet Union's political as well as economic sphere.
E)   restructuring of the economy and political system of the Soviet Union that preserved some of the more positive elements of socialism.F) A) and D)
G) A) and E)

Question 13

_____ refers to people who have acquired substantial wealth in one generation (i.e., new money) .

Accepted Answer

A)   De nouveaux fond
B)   Nouvelle robe
C)   Nouveau riche
D)   Nouvelle maison
E)   Nouvelle économieF) None of the above
G) A) and C)

Question 14

The early 1980s saw the gradual transition of the Chinese economy from a centrally planned economy toward a market-driven economy.

Accepted Answer

A) True 
 B)False

Question 15

Companies from emerging markets should play an important role in the process of transition to the global emerging market, as they have a great deal of experience operating in conditions of non-developed economies.

Accepted Answer

A) True 
 B)False

Question 16

In the WTO, it is the preference giving country, which decides the list of developing countries that will benefit from schemes such as the Generalized System of Preferences (GSP).

Accepted Answer

A) True 
 B)False

Question 17

The United States imports about 30 percent of its oil, despite its own massive reserves because:

Accepted Answer

A)   Americans consume more than what they can produce.
B)   Americans reroute their imported oil to other nations at a higher cost.
C)   the quality of oil produced in their reserves is substandard.
D)   the quantity of oil produced in their reserves is negligible.
E)   it is cheaper to export import oil than to extract it from the oil reserves.F) A) and B)
G) B) and E)

Question 18

CIVETS refers to:

Accepted Answer

A)   the group of newly emerging economies which proposes to set up a rival economic organization as an answer to the WTO.
B)   the group of newly emerging economies which has replaced the United States of America as the largest economy in the world.
C)   the group of newly emerging economies which will replace the BRIC countries of the last decade.
D)   the group of newly emerging economies which is working towards establishing Asian supremacy in organizations such as the IMF.
E)   the group of newly emerging economies whose economic growth is driven largely by oil and zero tariff tax havens.F) A) and B)
G) B) and C)

Question 19

_____ examines the extent to which women and men are able to actively participate in economic and political life and take part in decision-making.

Accepted Answer

A)   Gross domestic product (GDP) 
B)   Gender-related development index (GDI) 
C)   Gender empowerment measure (GEM) 
D)   Human poverty index (HPI) 
E)   Purchasing power parity(PPP) F) D) and E)
G) A) and B)

Question 20

_____ refers to a market in which prices steadily drop, in a downward cycle.

Accepted Answer

A)   Currency market
B)   Bull market
C)   Labor market
D)   Commodity market
E)   Bear marketF) A) and E)
G) None of the above

Exam 4: World Economies

The German law guarantees free unregulated private enterprise.

Correct AnswerverifiedShow Answer

In the Human Development Index, _____ is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrollment ratio.

Correct AnswerverifiedShow Answer

_____ refers to people who have acquired substantial wealth in one generation (i.e., new money) .

Correct AnswerverifiedShow Answer

CIVETS refers to:

Correct AnswerverifiedShow Answer

In the Human Development Index, health is measured by _____ at birth.

Correct AnswerverifiedShow Answer

_____ examines the extent to which women and men are able to actively participate in economic and political life and take part in decision-making.

Correct AnswerverifiedShow Answer

Gross domestic product per person refers to:

Correct AnswerverifiedShow Answer

_____ refers to a market in which prices steadily drop, in a downward cycle.

Correct AnswerverifiedShow Answer

Nigeria pulled out of the IMF program in 2002 because:

Correct AnswerverifiedShow Answer

The United States imports about 30 percent of its oil, despite its own massive reserves because:

Correct AnswerverifiedShow Answer

The early 1980s saw the gradual transition of the Chinese economy from a centrally planned economy toward a market-driven economy.

Correct AnswerverifiedShow Answer

Companies from emerging markets should play an important role in the process of transition to the global emerging market, as they have a great deal of experience operating in conditions of non-developed economies.

Correct AnswerverifiedShow Answer

Chinese economic statistics are often regarded with a degree of skepticism, as it is unclear as to where the numbers have originated from or how they have been derived.

Correct AnswerverifiedShow Answer

Why does HDI provide a more comprehensive view of a country's development compared to the GDP?

Correct AnswerverifiedGDP and purchasing power provide indicat...View AnswerShow Answer

"Fourth World" was a term coined after World War II which referred to:

Correct AnswerverifiedShow Answer

What was the Real Plan that was launched by the Brazilian government in 1994?

Correct AnswerverifiedIn the 1990s, the government honed in on...View AnswerShow Answer

In the WTO, it is the preference giving country, which decides the list of developing countries that will benefit from schemes such as the Generalized System of Preferences (GSP).

Correct AnswerverifiedShow Answer

One of the primary purposes of the EU was:

Correct AnswerverifiedShow Answer

The economic turbulence of the post-Gorbachev period led to the Yeltsin government instituting a series of economic measures. One of them was to galvanize the economy by:

Correct AnswerverifiedShow Answer

Perestroika refers to the:

Correct AnswerverifiedShow Answer

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GDP and purchasing power provide indicat...
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In the 1990s, the government honed in on...
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