Exam 3: National Differences in Economic Development

Several of the fastest-growing Asian economies adopted more ________ governments during the past three decades, including South Korea and Taiwan.

What is the philosophy of Amartya Sen?

In a command economy, the prices are determined by the free interplay of demand and supply.

Which of the following helps in adjusting GNI such that it accounts for the differences in the cost of living?

The long-run monetary benefits of doing business in a country are a function of the size of the market, the present wealth of consumers in that market, and the likely future wealth of consumers.

Why does doing business in a country with a relatively unsophisticated economy result in increased costs?

Which of the following factors is likely to make a country a more attractive location for international business?

Many states in Asia, Latin America, and Western Europe have shifted away from a mixed economy to a market-based economy. Which of the following measures is most likely to be promoted by such states?

A change in political regime in a country can result in laws that ________ to international businesses.

To improve airport security following a major terrorist attack, the government of a country takes over the airport security industries This is an example of privatization.

Which of the following is a legal means by which the state can expropriate the profits from innovation?

Which of the following is a first-mover advantage?

Why does education lead to economic development?

The influential Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until they

What are the factors that determine the costs of doing business in a country?

The overall attractiveness of a country as a potential market or investment site for an international business depends on

Economic risks are independent of political risk.

The costs of doing business in a country tend to be greater if

________ involves removing legal restrictions to the free play of markets, the establishment of private enterprises, and the manner in which private enterprises operate.

Studies of privatization in central Europe have shown that the process often fails to deliver predicted benefits if the newly privatized firms