Question 1

Why is there so little domestic production of goods for the population in many less developed countries?

Accepted Answer

A)  because the majority of the many less developed countries would rather purchase imported goods. 
B)  because there is a shortage of labor available to work in factories in many less developed countries. 
C)  because the majority of the population does not have the income to purchase many manufactured goods. 
D)  because the International Monetary Fund requires many developed countries to increase their imports. 
A)  because the majority of the many less developed countries would rather purchase imported goods. 
B)  because there is a shortage of labor available to work in factories in many less developed countries. 
C)  because the majority of the population does not have the income to purchase many manufactured goods. 
D)  because the International Monetary Fund requires many developed countries to increase their imports.

Question 2

The most populous country in the group, "Sub-Saharan Africa," is

Accepted Answer

A)  Nigeria 
B)  Ethiopia 
C)  Democratic Republic of the Congo 
D)  Tanzania 
A)  Nigeria 
B)  Ethiopia 
C)  Democratic Republic of the Congo 
D)  Tanzania

Question 3

The "national surplus" is defined as

Accepted Answer

A)  amount of the national product that remains unsold at the end of the year 
B)  the difference between total government revenues and government expenditures. 
C)  the difference between exports and imports. 
D)  the difference between the total national product and the minimum necessary to sustain the population. 
A)  amount of the national product that remains unsold at the end of the year 
B)  the difference between total government revenues and government expenditures. 
C)  the difference between exports and imports. 
D)  the difference between the total national product and the minimum necessary to sustain the population.

Question 4

Aside from military industries, how do most global corporations fare during wartime?

Accepted Answer

A)  most global corporations make higher profits during wartime. 
B)  most global corporations make higher profits during peacetime. 
C)  war has no impact on the profits of most global corporations. 
D)  most global corporations make no profit at all during wartime. 
A)  most global corporations make higher profits during wartime. 
B)  most global corporations make higher profits during peacetime. 
C)  war has no impact on the profits of most global corporations. 
D)  most global corporations make no profit at all during wartime.

Question 5

"Neocolonialism" refers to a process in which

Accepted Answer

A)  a country endured military occupation, political domination and economic exploitation by another country. 
B)  a country endured political domination and economic exploitation by another country. 
C)  a country endured economic exploitation by another country. 
D)  a country entered into an alliance with another country 
A)  a country endured military occupation, political domination and economic exploitation by another country. 
B)  a country endured political domination and economic exploitation by another country. 
C)  a country endured economic exploitation by another country. 
D)  a country entered into an alliance with another country

Question 6

Since the 1970s, how has globalization affected Latin America?

Accepted Answer

A)  foreign investment in this region has remained approximately the same. . 
B)  there has been a significant increase in foreign investment. 
C)  there has been a significant decrease in foreign investment. 
D)  foreign investment has been prohibited in most Latin American countries. 
A)  foreign investment in this region has remained approximately the same. . 
B)  there has been a significant increase in foreign investment. 
C)  there has been a significant decrease in foreign investment. 
D)  foreign investment has been prohibited in most Latin American countries.

Question 7

Whats defention of terms:
-less developed economies

Accepted Answer

The answer of Whats defention of terms:
-less developed economies...

Question 8

In the 60 years since the end of World War II, the gap between average incomes in less developed countries and average income in the advanced countries has

Accepted Answer

A)  remained about the same. 
B)  increased. 
C)  decreased. 
D)  disappeared. 
A)  remained about the same. 
B)  increased. 
C)  decreased. 
D)  disappeared.

Question 9

Excluding India, the two most populous countries in the group, "South Asia," are

Accepted Answer

A)  Pakistan and Bangladesh 
B)  Afghanistan and Pakistan 
C)  Sri Lanka and Nepal 
D)  Afghanistan and Bangladesh 
A)  Pakistan and Bangladesh 
B)  Afghanistan and Pakistan 
C)  Sri Lanka and Nepal 
D)  Afghanistan and Bangladesh

Question 10

What is the economic impact of war on the economy?

Accepted Answer

A)  increased military spending creates jobs in the short run, but reduces economic growth in the long run. 
B)  increased military spending creates jobs in the short run and in the long run. 
C)  increased military spending reduces economic growth in the short run, but increases economic growth in the long run. 
D)  increased military spending reduced economic growth in the short run and in the long run. 
A)  increased military spending creates jobs in the short run, but reduces economic growth in the long run. 
B)  increased military spending creates jobs in the short run and in the long run. 
C)  increased military spending reduces economic growth in the short run, but increases economic growth in the long run. 
D)  increased military spending reduced economic growth in the short run and in the long run.

Question 11

Conservatives argue that underdevelopment is caused primarily by

Accepted Answer

A)  the misguided policies of international organizations such as the International Monetary Fund and the World Bank. 
B)  irresponsible actions of transnational corporations. 
C)  corrupt and inept actions taken by the governments of less developed countries. 
D)  lack of sufficient population growth. 
A)  the misguided policies of international organizations such as the International Monetary Fund and the World Bank. 
B)  irresponsible actions of transnational corporations. 
C)  corrupt and inept actions taken by the governments of less developed countries. 
D)  lack of sufficient population growth.

Question 12

Whats defention of terms:
-national surplus

Accepted Answer

The answer of Whats defention of terms:
-national surplus...

Exam 56: Development

Why is there so little domestic production of goods for the population in many less developed countries?

The most populous country in the group, "Sub-Saharan Africa," is

The "national surplus" is defined as

Aside from military industries, how do most global corporations fare during wartime?

"Neocolonialism" refers to a process in which

Since the 1970s, how has globalization affected Latin America?

Whats defention of terms: -less developed economies

In the 60 years since the end of World War II, the gap between average incomes in less developed countries and average income in the advanced countries has

Excluding India, the two most populous countries in the group, "South Asia," are

What is the economic impact of war on the economy?

Conservatives argue that underdevelopment is caused primarily by

Whats defention of terms: -national surplus

Prehistoric Communal Institutions in the Middle East

Communal Equality to Slavery in the Middle East

Slavery to Feudalism in Western Europe

Feudalism and Paternalism in England

Feudalism to Capitalism in England

Mercantilism in England

Pre-Capitalism to Industrial Capitalism in the United States 1776-1865

Classical Liberalism Defense of Industrial Capitalism

Socialist Protest Against Industrial Capitalism

Marx Critique and Alternative to Capitalism

Rise of Corporate Capitalism in the United States, 1865-1900

Neoclassical Economics Defense of Corporate Capitalism

Veblen Critique of Corporate Capitalism

Growth and Depression in the United States, 1900-1940

Keynesian Economics and the Great Depression

The United States and Global Capitalism, 1940-2006

Robinson Crusoe Two Perspectives on Microeconomics

The Two Americas Inequality, Class, and Conflict

Inequality, Exploitation, and Economic Institutions

Prices, Profits, and Exploitation

Market Power and Global Corporations

Economics of Racial and Gender Discrimination

Environmental Devastation

Government and Inequality

Economic Democracy

Scarcity and Choice Neoclassical View

Simple Analytics of Supply and Demand

Consumption Theory: Demand

Production Theory Supply

Costs of Production

Work and Wages Neoclassical View of Income Distribution

Prices and Profits in Perfect Competition

Monopoly, Power, Prices, and Profits

Monopolistic Competition and Oligopoly

Market Failures Public Goods, Market Power, and Externalities

History of Business Cycles and Human Misery

National Income Accounting How to Map the Circulation of Money and Goods

Money and Profit Says Law and Institutionalist Criticism

Neoclassical View of Aggregate Supply and Demand

Keynesian View of Aggregate Supply and Demand

How to Measure Instability

Consumer Spending and Labor Income

Investment Spending and Profit

The Multiplier

Business Cycles and Unemployment

Growth and Waste

Fiscal Policy

Government Spending and Taxes

Money, Banking, and Credit

Inflation

Monetary Policy

Exports and Imports

International Trade, Investment, and Finance How Instability Spreads Around the World

Debate on Globalization

Debate on Free Trade

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