Exam 7: The Imf, Global Inequality, and Development

Falling prices for raw materials relative to manufactured goods is viewed by many as resulting in declining _________________ for developing nations.

Global economic inequalities

Restricting imports of products so that domestic producers will grow to meet demand is known as

Structural adjustment loans

Most of the reduction in the number of people in poverty over the last two decades has occurred in Asia.

The "Washington Consensus" is critical of neoliberal policies.

When we say that underdevelopment in many African nations appears "overdetermined," we mean that

The ___________________consensus assumes that free trade and limited government promote economic development.

In the area of development economics, dependency theory is most compatible with a __________ perspective on international relations.

Supporters of neoliberalism reject the claim that the current liberal international economic order represents the fundamental obstacle to development.Why do they reject this argument and what sorts of evidence do they cite in support of their position?

The NICs are located mainly in

What were the origins and rationale for import substitution policies?

The United States practiced free trade throughout its development in the 1800s.

Loans granted by ______________ to developing countries often require them to adopt market-oriented economic policies.

In the wake of decolonization, most Third World economies remained heavily reliant on the export of _____________________.

Empirical studies have shown that IMF structural adjustment policies have had a dramatically positive impact on economic growth rates.

______________________ assumes that economic development is a positive-sum process in which the wealth of some nations does not depend on poverty in others.

Current global economic inequalities began to emerge in the middle of the _______________ century.

Dependency theorists embrace the "Washington Consensus".

In order to receive IMF loans, recipients must agree to reduce barriers to international trade and investment.