Question 1

A(n) _____ is a country that can be defined as a society transitioning from a centrally managed economy to a free market-oriented economy.

Accepted Answer

The answer of A(n) _____ is a country that can...

Question 2

The _____ refers to the Basic Law of Germany,which guarantees private enterprise and private property.

Accepted Answer

A)  Gesetz
B)  Grundgesetz
C)  Marktwirtschaft
D)  Steuer
E)  SchutzmannF) C) and D)
G) A) and E)

Question 3

_____ refers to a market in which prices rise for a prolonged period of time.

Accepted Answer

A)  Currency market
B)  Bull market
C)  Labor market
D)  Commodity market
E)  Bear marketF) D) and E)
G) A) and C)

Question 4

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) B) and C)
G) None of the above

Question 5

_____ refers to giant corporate holding companies in Japan,which were dismantled after World War II.

Accepted Answer

A)  Sokaiya
B)  Nemawashi
C)  Keiretsu
D)  Chaebol
E)  ZaibatsuF) All of the above
G) A) and B)

Question 6

The greater the gender disparity in basic capabilities,the lower a country's GDI compared with its HDI.

Accepted Answer

A) True 
 B)False

Question 7

In some industries in the UAE,it is mandatory for companies outside the free-trade zone to have an Emirati sponsor or partner.

Accepted Answer

A) True 
 B)False

Question 8

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) B) and E)
G) A) and C)

Question 9

Economic reforms in the 1990s privatized most industry in Russia,with notable exception in the _____ sector.

Accepted Answer

A)  textiles
B)  media
C)  defense
D)  agriculture
E)  educationF) C) and D)
G) A) and D)

Question 10

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 11

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 12

The German law guarantees free unregulated private enterprise.

Accepted Answer

A) True 
 B)False

Question 13

Purchasing power parity refers to:

Accepted Answer

A)  the value of the GDP divided by the population of the country.
B)  the value of all the goods and services produced by a country in a single 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 bought 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) C) and D)
G) None of the above

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

What was the effect of the apartheid system on the South African economy?

Accepted Answer

South Africa practiced legal racial segr...

Question 16

Companies selling expensive goods and services are more interested in economies with low per capita GDP.

Accepted Answer

A) True 
 B)False

Question 17

The much criticized _____ initiated by the Russian government as part of the economic reforms in the 1990s,turned over major state-owned firms to politically connected 'oligarchs.'

Accepted Answer

A)  economic assistance scheme
B)  pyramid selling scheme
C)  loans-for-shares scheme
D)  cap and trade scheme
E)  advance fee schemeF) D) and E)
G) A) and D)

Question 18

The "lost decade" refers to that period in Brazil in the 1980s when:

Accepted Answer

A)  it plunged into chaos and civil war,which pushed back its economic growth by a decade.
B)  it plunged into a period of runaway inflation and negative growth rates.
C)  it plunged into a period of economic ruin when it was denied the benefits of globalization due to an economic boycott.
D)  it plunged into a period economic mayhem when unbridled capitalism ruined its agrarian economy.
E)  it plunged into a period of economic disaster in the form of an ill-planned attempt at establishing a centrally controlled economy.F) A) and B)
G) C) and E)

Question 19

What are China's strengths that enable it to compete in the economic battleground between India and China?

Accepted Answer

The following are China's areas of stren...

Question 20

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...

Exam 4: World Economies

In some industries in the UAE,it is mandatory for companies outside the free-trade zone to have an Emirati sponsor or partner.

Correct AnswerverifiedShow Answer

The "lost decade" refers to that period in Brazil in the 1980s when:

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

The German law guarantees free unregulated private enterprise.

Correct AnswerverifiedShow Answer

Companies selling expensive goods and services are more interested in economies with low per capita GDP.

Correct AnswerverifiedShow Answer

A(n) _____ is a country that can be defined as a society transitioning from a centrally managed economy to a free market-oriented economy.

Correct AnswerverifiedShow Answer

_____ refers to a market in which prices rise for a prolonged period of time.

Correct AnswerverifiedShow Answer

The much criticized _____ initiated by the Russian government as part of the economic reforms in the 1990s,turned over major state-owned firms to politically connected 'oligarchs.'

Correct AnswerverifiedShow Answer

Perestroika refers to the:

Correct AnswerverifiedShow Answer

The greater the gender disparity in basic capabilities,the lower a country's GDI compared with its HDI.

Correct AnswerverifiedShow Answer

Economic reforms in the 1990s privatized most industry in Russia,with notable exception in the _____ sector.

Correct AnswerverifiedShow Answer

What are China's strengths that enable it to compete in the economic battleground between India and China?

Correct AnswerverifiedThe following are China's areas of stren...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

The _____ refers to the Basic Law of Germany,which guarantees private enterprise and private property.

Correct AnswerverifiedShow Answer

Purchasing power parity refers to:

Correct AnswerverifiedShow Answer

What was the effect of the apartheid system on the South African economy?

Correct AnswerverifiedSouth Africa practiced legal racial segr...View AnswerShow 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

_____ refers to giant corporate holding companies in Japan,which were dismantled after World War II.

Correct AnswerverifiedShow Answer

Nigeria pulled out of the IMF program in 2002 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

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The following are China's areas of stren...
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South Africa practiced legal racial segr...
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GDP and purchasing power provide indicat...
View Answer

Correct Answer
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Correct Answer
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