Exam 21: Economic Development

The group of countries more likely to have a high number of telephone lines per 1,000 people is

Most of the labor force in developing countries work in the low wage manufacturing sector.

The country of Bananaland has an abundant supply of banana trees and therefore must be a modern industrial economy.

Studies by the World Bank have underscored the successes of countries that have adopted trade liberalization policies.

If the country of Deficitland is experiencing trade deficits, they are more likely to cut imports of

In centrally planned economies, most prices are not

A downside to foreign aid is that

One of the reasons that import substitution is popular is that

A soft budget constraint applies when enterprises that earn profits distribute those profits to their private owners.

Any international transfer made on concessional terms for the purposes of promoting economic development is

A World Bank study suggest a strong link in Africa between governments that __________ special-interest groups and __________ rates of economic growth.

All developed countries achieve their status as a result of large supplies of natural resources.

Which of the following is not a developing country classified as a high-income economy because of possessing huge oil reserves?

Laws, customs, conventions, and other institutional elements that sustain an economy fall under the category of

The average value added per U.S. farm worker is about __________ times that of farm workers in low- and middle-income countries.

The yardstick most often used to compare living standards across nations is

One possible reason that the country of Whatsis is trapped in poverty is

In a system of impersonal exchange,

The country of Excludania can discourage foreign investment by

One example of gradualism is taking place in