Exam 3: National Differences in Economic Development

In many countries entrepreneurs and other business leaders,eager to protect their property rights and ensure the dispassionate enforcement of contracts,had pushed for _____.This contributed to a wave of democratic revolutions during the late 1980s and early 1990s.

According to Amartya Sen,development should be:

According to political scientist Samuel Huntington,the rise of Islamic fundamentalism is a response to _____.

Since the late 1980s,there has been a spread of democracy.This is because _____.

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

The likelihood that a trading partner will opportunistically break a contract or expropriate property rights is called a(n)_____.

What are the factors that determine the long-run monetary benefits of doing business in a country?

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

What are late-mover disadvantages?

One visible indicator of political risks tends to be a country's inflation rate.

Economic freedom necessarily equates with political freedom.

The political economy of many of the world's nation-states has changed radically since the late 1980s.All of the following are trends that have been evident EXCEPT:

Which of the following factors is NOT likely to make a country a more attractive location for international business?

Political scientist Samuel Huntington predicts that there will be a more harmonious world dominated by a universal civilization characterized by democratic regimes and free market capitalism.

The base for the purchasing power parity adjustment of the GNI is the cost of living in the United States.

Transformation from centrally planned command economies to market-based economies can be attributed to the fact that command and mixed economies failed to deliver the sustained economic performance achieved by countries adopting market-based systems.

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

Discuss Samuel Huntington's views on Islamic fundamentalism.

Explain how geography of a nation influences its economic development.

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