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Exam 3: National Differences in Economic Development

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Question 31

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Which of the following statements is true about privatization?

A) The privatization movement started in China in the early 1980s.
B) Privatization involves replacing a state-owned monopoly with a private monopoly.
C) For privatization to become successful, countries should adopt communism.
D) When newly privatized firms are extensively protected from foreign competition, they have little incentive to restructure their operations to become more efficient.
E) In today's context, a country runs the risk of experiencing a serious economic crisis if it liberalizes and privatizes state-owned enterprises.

F) A) and B)
G) A) and C)

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Question 32

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The late Influential political scientist Samuel Huntington predicted that the universalization of Western liberal democracy will be the final form of human government.

A) True
B) False

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Question 33

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What type of risk can be defined as the likelihood that a trading partner will opportunistically break a contract or expropriate property rights?

Which of the following is most likely to be true about the overall attractiveness of a country as a potential market or investment site for an international business?

Although China and India are very large markets when measured by number of consumers, they are relatively small markets when measured in economic terms due to their:

Totalitarian states, by limiting human freedom, are highly conducive to progress in terms of innovation, entrepreneurship, and economic growth.

By identifying and investing early in a potential future economic star, international firms build brand loyalty and gain experience in that country's business practices.

Why are market economies more conducive to innovation and entrepreneurship than planned or mixed economies?

Countries with which of the following are more likely to attain high and sustained economic growth rates and are thus a more attractive location for international business?

In the context of political economy, one notable development of the past 20 years has been the spread of:

When does the process of privatization fail to deliver predicted benefits? What economic conditions are required for privatization to work?

According to the influential economist Jeffrey Sachs, tropical regions have a more extensive division of labor than temperate regions.

Which of the following is most likely to be implemented by a country as a part of deregulation?

A country's economic system and property rights regime do not influence the attractiveness of the country as a market or investment site.

In Amartya Sen's view, development is solely an economic process, and not a political process.

Lamboria Republic is facing a high rate of inflation, and the government debt in the country is also high. As a result, the country's business environment is beginning to deteriorate, and the profits of the business enterprises are hurt. According to this information, Lamboria Republic is facing which of the following type of risk?

Discuss the concept of deregulation.

MedPlus Incorporated, based in the United States, hesitates to enter into a joint venture with Azpak Limited, a Sri Lankan company, due to inadequate protection of intellectual property rights. MedPlus is trying to avoid what type of risk?

Although countries such as China and India are currently relatively poor, their economies are already large in absolute terms and growing more rapidly than those of many advanced nations.

How does Author Francis Fukuyama's vision of the new world differ from that of the late influential political scientist Samuel Huntington?