Question 1

A market with a large number of consumers with low living standards will have a relatively large market when measured in economic terms.

Accepted Answer

A) True 
 B)False  False

Question 2

The state of Illinois was having budget difficulties, so it hired several private management consultancy firms to manage some state-owned enterprises. This is an example of privatization.

Accepted Answer

A) True 
 B)False  False

Question 3

________ are the advantages gained by early entrants into a market.

Accepted Answer

A)  Early-investor advantages 
B)  First-mover advantages 
C)  First-to-market advantages 
D)  Late-mover advantages 
A)  Early-investor advantages 
B)  First-mover advantages 
C)  First-to-market advantages 
D)  Late-mover advantages B

Question 4

The general assertion is that nations investing more in ________ will have higher economic growth rates.

Accepted Answer

A)  infrastructure 
B)  centralized urban centers 
C)  education 
D)  manufacturing 
A)  infrastructure 
B)  centralized urban centers 
C)  education 
D)  manufacturing

Question 5

Paralleling the spread of democracy since the 1980s has been the transformation from

Accepted Answer

A)  free-market economies to socialist economies. 
B)  mixed economies to collectivist economies. 
C)  open economies to closed economies. 
D)  command economies to market-based economies. 
A)  free-market economies to socialist economies. 
B)  mixed economies to collectivist economies. 
C)  open economies to closed economies. 
D)  command economies to market-based economies.

Question 6

________ are the handicaps that late entrants to a market might suffer.

Accepted Answer

A)  Government regulations 
B)  Late-mover disadvantages 
C)  Black economy 
D)  Purchasing power disparity 
A)  Government regulations 
B)  Late-mover disadvantages 
C)  Black economy 
D)  Purchasing power disparity

Question 7

Without a strong legal system in a market economy

Accepted Answer

A)  the incentive to engage in economic activity can be increased substantially. 
B)  private-sector entrepreneurs can expropriate the profits generated by the efforts of private and public entities. 
C)  mechanisms for contract enforcement fall to private and corporate lawyers. 
D)  private and public entities can expropriate the profits generated by the efforts of private-sector entrepreneurs. 
A)  the incentive to engage in economic activity can be increased substantially. 
B)  private-sector entrepreneurs can expropriate the profits generated by the efforts of private and public entities. 
C)  mechanisms for contract enforcement fall to private and corporate lawyers. 
D)  private and public entities can expropriate the profits generated by the efforts of private-sector entrepreneurs.

Question 8

What are the factors that contribute to the risks of doing business in a country?

Accepted Answer

The risks of doing business in a country

Question 9

GDP allows a more direct comparison of living standards in different countries than other measures.

Accepted Answer

A) True 
 B)False

Question 10

________, a Nobel Prize-winning economist, has argued that development is not just an economic process, but it is a political one as well.

Accepted Answer

A)  Hernando de Soto 
B)  Karl Marx 
C)  Samuel Huntington 
D)  Amartya Sen 
A)  Hernando de Soto 
B)  Karl Marx 
C)  Samuel Huntington 
D)  Amartya Sen

Question 11

Political scientist ________ predicts that there will be a world that is split into different civilizations, each of which has its own value systems and ideology.

Accepted Answer

A)  Samuel Huntington 
B)  Amartya Sen 
C)  Francis Fukuyama 
D)  Hernando de Soto 
A)  Samuel Huntington 
B)  Amartya Sen 
C)  Francis Fukuyama 
D)  Hernando de Soto

Question 12

The sale of state assets through an auction is most likely to lead to

Accepted Answer

A)  trade certification. 
B)  privatization. 
C)  nationalization. 
D)  market regulation. 
A)  trade certification. 
B)  privatization. 
C)  nationalization. 
D)  market regulation.

Question 13

GNI per person figures can be misleading because

Accepted Answer

A)  they also include barter agreements. 
B)  they provide a dynamic picture of development. 
C)  they don't consider differences in the cost of living. 
D)  they don't consider exchange rate. 
A)  they also include barter agreements. 
B)  they provide a dynamic picture of development. 
C)  they don't consider differences in the cost of living. 
D)  they don't consider exchange rate.

Question 14

The ________ adjustment allows for a more direct comparison of living standards in different countries.

Accepted Answer

A)  gross domestic product 
B)  value added 
C)  gross national income (GNI) 
D)  purchasing power parity (PPP) 
A)  gross domestic product 
B)  value added 
C)  gross national income (GNI) 
D)  purchasing power parity (PPP)

Question 15

If a country's economy is to sustain long-term economic growth, the business environment must be conducive to innovations and entrepreneurial activity.

Accepted Answer

A) True 
 B)False

Question 16

In mixed economies, in certain sectors the state sets prices, owns businesses, limits private enterprise, restricts investment by foreigners, and restricts international trade.

Accepted Answer

A) True 
 B)False

Question 17

In Sen's view, development is an economic process that should be assessed primarily by material output measures such as GNI per capita.

Accepted Answer

A) True 
 B)False

Question 18

GDP is one of the measures used by the Human Development Index (HDI) to measure the quality of human life in different nations.

Accepted Answer

A) True 
 B)False

Question 19

________ per person figures can be misleading because they don't consider differences in the cost of living.

Accepted Answer

A)  Gross domestic product (GDP) 
B)  Gross national income (GNI) 
C)  Purchasing power parity (PPP) 
D)  Human Development Index (HDI) 
A)  Gross domestic product (GDP) 
B)  Gross national income (GNI) 
C)  Purchasing power parity (PPP) 
D)  Human Development Index (HDI)

Question 20

Which of the following statements is true about Samuel Huntington?

Accepted Answer

A)  Samuel Huntington argues that there is a universal civilization based on widespread acceptance of Western democratic ideals. 
B)  Samuel Huntington argues that the rise of Islamic fundamentalism is a response to the alienation produced by modernization. 
C)  Samuel Huntington argues that global terrorism is a product of the static nature of traditional values and religious systems. 
D)  Samuel Huntington argues that many societies, by adopting the material paraphernalia of the modern world, are becoming more Western. 
A)  Samuel Huntington argues that there is a universal civilization based on widespread acceptance of Western democratic ideals. 
B)  Samuel Huntington argues that the rise of Islamic fundamentalism is a response to the alienation produced by modernization. 
C)  Samuel Huntington argues that global terrorism is a product of the static nature of traditional values and religious systems. 
D)  Samuel Huntington argues that many societies, by adopting the material paraphernalia of the modern world, are becoming more Western.

A market with a large number of consumers with low living standards will have a relatively large market when measured in economic terms.

The state of Illinois was having budget difficulties, so it hired several private management consultancy firms to manage some state-owned enterprises. This is an example of privatization.

________ are the advantages gained by early entrants into a market.

The general assertion is that nations investing more in ________ will have higher economic growth rates.

Paralleling the spread of democracy since the 1980s has been the transformation from

________ are the handicaps that late entrants to a market might suffer.

Without a strong legal system in a market economy

What are the factors that contribute to the risks of doing business in a country?

GDP allows a more direct comparison of living standards in different countries than other measures.

________, a Nobel Prize-winning economist, has argued that development is not just an economic process, but it is a political one as well.

Political scientist ________ predicts that there will be a world that is split into different civilizations, each of which has its own value systems and ideology.

The sale of state assets through an auction is most likely to lead to

GNI per person figures can be misleading because

The ________ adjustment allows for a more direct comparison of living standards in different countries.

If a country's economy is to sustain long-term economic growth, the business environment must be conducive to innovations and entrepreneurial activity.

In mixed economies, in certain sectors the state sets prices, owns businesses, limits private enterprise, restricts investment by foreigners, and restricts international trade.

In Sen's view, development is an economic process that should be assessed primarily by material output measures such as GNI per capita.

GDP is one of the measures used by the Human Development Index (HDI) to measure the quality of human life in different nations.

________ per person figures can be misleading because they don't consider differences in the cost of living.

Which of the following statements is true about Samuel Huntington?

Globalization

National Differences in Political, Economic, and Legal Systems

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Economic Integration

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, Importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and R&D

Global Human Resource Management

Accounting and Finance in the International Business

Filters

Exam 3: National Differences in Economic Development

A market with a large number of consumers with low living standards will have a relatively large market when measured in economic terms.

The state of Illinois was having budget difficulties, so it hired several private management consultancy firms to manage some state-owned enterprises. This is an example of privatization.

________ are the advantages gained by early entrants into a market.

The general assertion is that nations investing more in ________ will have higher economic growth rates.

Paralleling the spread of democracy since the 1980s has been the transformation from

________ are the handicaps that late entrants to a market might suffer.

Without a strong legal system in a market economy

What are the factors that contribute to the risks of doing business in a country?

GDP allows a more direct comparison of living standards in different countries than other measures.

________, a Nobel Prize-winning economist, has argued that development is not just an economic process, but it is a political one as well.

Political scientist ________ predicts that there will be a world that is split into different civilizations, each of which has its own value systems and ideology.

The sale of state assets through an auction is most likely to lead to

GNI per person figures can be misleading because

The ________ adjustment allows for a more direct comparison of living standards in different countries.

If a country's economy is to sustain long-term economic growth, the business environment must be conducive to innovations and entrepreneurial activity.

In mixed economies, in certain sectors the state sets prices, owns businesses, limits private enterprise, restricts investment by foreigners, and restricts international trade.

In Sen's view, development is an economic process that should be assessed primarily by material output measures such as GNI per capita.

GDP is one of the measures used by the Human Development Index (HDI) to measure the quality of human life in different nations.

________ per person figures can be misleading because they don't consider differences in the cost of living.

Which of the following statements is true about Samuel Huntington?

Globalization

National Differences in Political, Economic, and Legal Systems

Differences in Culture

Ethics, Corporate Social Responsibility, and Sustainability

International Trade Theory

Government Policy and International Trade

Foreign Direct Investment

Regional Economic Integration

The Foreign Exchange Market

The International Monetary System

The Global Capital Market

The Strategy of International Business

The Organization of International Business

Entry Strategy and Strategic Alliances

Exporting, Importing, and Countertrade

Global Production and Supply Chain Management

Global Marketing and R&D

Global Human Resource Management

Accounting and Finance in the International Business

Filters