Exam 3: National Differences in Economic Development

People in the West tend to associate which of the following with a free market system, strong property rights protection, and economic progress?

Discuss the significance of legal systems in the context of shifting toward a market-based economic system.

The influential economist Jeffrey Sachs argues that throughout history, which of the following, with their long engagements in international trade, have been the most supportive of market institutions.

Social unrest and disorder are less likely to be found in countries that contain more than one ethnic nationality.

Which of the following statements is true about the changing economic system since the 1980s?

The risks of doing business are most likely to be the highest in a country that:

Gamma Gene Incorporated has sought your opinion about the overall attractiveness of various countries as potential markets and investment sites. What would you tell them?

Generally, the costs and risks associated with doing business in a foreign country are typically lower in:

Discuss Jeffrey Sachs's conception of geography, education, and economic development.

Which of the following is broadly defined as the development of new products, processes, organizations, management practices, and strategies?

During the late 1980s and early 1990s, totalitarian governments collapsed and were replaced by democratically elected governments.

The Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until they relax the property rights offered by their legal systems.

The cost of doing business is most likely to be the lowest in:

Which of the following statements is most likely to be true about the risks of doing business in a country?

Capricorn Creative Inc., a U.S.-based advertising firm, was the first in the advertising industry to identify the growth potential of Brazil and to make huge investments in its economy. As a result, the firm was able to build brand loyalty and gain experience in that country's business practices. In the language of business strategy, Capricorn Creative has typically benefited from:

Which of the following statements is true of purchasing power parity (PPP)?

Which of the following steps is most likely to be involved in the deregulation of an economy?

The absence of a legal system that protects property rights and the lack of machinery to enforce that system in a market economy usually results in:

It is more costly to do business in relatively primitive or undeveloped economies because of the lack of infrastructure and supporting businesses.

In Samuel Huntington's thesis, global terrorism is a product of the: