Question 1

Why is it that today it is more difficult to categorize countries into the three neat groups like the one that were used in the 1960s.

Accepted Answer

Rapid economic progress brought some developing nations closer to developed economies. Countries such as Argentina and Chile, still considered to be "developing," are often referred to as middle-income or newly industrialized countries. Other countries, such as those in much of sub-Saharan Africa and some in South Asia, have stagnated and fallen so far behind the economic advances of the rest of the world that the term Fourth World has been used to describe them. China and India, while usually labeled developing countries, are fast becoming economic superpowers.

Question 2

Define the fertility rate and the mortality rate.

Accepted Answer

The fertility rate is the birth rate. It is equal to (the number of births per year divided by the population) x 100. The mortality rate is the death rate. It is equal to (the number of deaths per year divided by the population) x 100.

Question 3

Explain the "vicious-circle-of-poverty" hypothesis.

Accepted Answer

Suggests that poverty is self-perpetuating because poor nations are unable to save and invest enough to accumulate the capital stock that would help them grow.

Question 4

In a nutshell what has been the reality of central planning?

Accepted Answer

The reality of central plannin

Question 5

With regard to transition economies what is meant by shock therapy?

Accepted Answer

Shock therapy is an approach t

Question 6

What is brain drain?

Accepted Answer

Brain drain the tendency for t

Question 7

Define GNI or Gross National Income.

Accepted Answer

Gross National Income is a new

Question 8

List the three main sources of economic development.

Accepted Answer

The three main sources of econ

Question 9

Define import substitution. Evaluate the success of import substitution strategies in developing countries.

Accepted Answer

Import substitution is an industrial str

Question 10

In the 1960 nations could be divided into three distinct groups. Discuss these three groups and offer examples of countries that fit into each of these categories.

Accepted Answer

In the early 1960s, the nations of the w

Question 11

Can the same principles that have been used in the study of advanced economies be used to study less developed economies as well? Explain your answer.

Accepted Answer

Yes. All economic analysis deals with th

Question 12

When economists refer to the "brain drain" in developing countries what do they mean?

Accepted Answer

It is the tendency for talente

Question 13

What are the common characteristics of developing countries?

Accepted Answer

Common characteristics of developing cou

Question 14

Is the developing world moving toward centralized planning or free markets? Justify your answer.

Accepted Answer

In recent years the developing world has

Question 15

Explain why health and nutrition are essential to workforce development.

Accepted Answer

Programs in nutrition and heal

Question 16

Define social overhead capital.

Accepted Answer

Social overhead capital includ

Question 17

Which part of the world is often classified as the "Fourth World" and why?

Accepted Answer

Countries such as much of sub-Saharan Af

Question 18

Explain import substitution.

Accepted Answer

Import substitution is an indu

Question 19

What is the distribution of the world's population between the developed nations and developing nations? What is the distribution of income between these two groups and their consumption as a percentage of world income?

Accepted Answer

While the developed nations account for

Question 20

Identify the six basic requirements that economists generally agree must exist for a successful transition from socialism to a market-based system.

Accepted Answer

1) Macroeconomic stabilization; 2) Dereg

Exam 21: Economic Growth in Developing and Transitional Economies

Why is it that today it is more difficult to categorize countries into the three neat groups like the one that were used in the 1960s.

Define the fertility rate and the mortality rate.

Explain the "vicious-circle-of-poverty" hypothesis.

In a nutshell what has been the reality of central planning?

With regard to transition economies what is meant by shock therapy?

What is brain drain?

Define GNI or Gross National Income.

List the three main sources of economic development.

Define import substitution. Evaluate the success of import substitution strategies in developing countries.

In the 1960 nations could be divided into three distinct groups. Discuss these three groups and offer examples of countries that fit into each of these categories.

Can the same principles that have been used in the study of advanced economies be used to study less developed economies as well? Explain your answer.

When economists refer to the "brain drain" in developing countries what do they mean?

What are the common characteristics of developing countries?

Is the developing world moving toward centralized planning or free markets? Justify your answer.

Explain why health and nutrition are essential to workforce development.

Define social overhead capital.

Which part of the world is often classified as the "Fourth World" and why?

Explain import substitution.

What is the distribution of the world's population between the developed nations and developing nations? What is the distribution of income between these two groups and their consumption as a percentage of world income?

Identify the six basic requirements that economists generally agree must exist for a successful transition from socialism to a market-based system.

The Scope and Method of Economics

The Economic Problem: Scarcity and Choice

Demand, Supply, and Market Equilibrium

Demand and Supply Applications

Introduction to Macroeconomics

Measuring National Output and National Income

Unemployment, Inflation, and Long-Run Growth

Aggregate Expenditure and Equilibrium Output

The Government and Fiscal Policy

The Money Supply and the Federal Reserve System

Money Demand and the Equilibrium Interest Rate

The Determination of Aggregate Output, the Price Level, and the Interest Rate

Policy Effects and Costs Shocks in the Asad Model

The Labor Market in the Macroeconomy

Financial Crises, Stabilization, and Deficits

Household and Firm Behavior in the Macroeconomy: a Further Look

Long-Run Growth

Alternative Views in Macroeconomics

International Trade, Comparative Advantage, and Protectionism

Open-Economy Macroeconomics: the Balance of Payments and Exchange Rates

Filters