Global Business Today Study Set 7

Business

Quiz 3 :

National Differences in Economic Development

Quiz 3 :

National Differences in Economic Development

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The purchasing power parity for different countries is adjusted (up or down) depending upon whether a country's cost of living is lower or higher than the cost of living in the United States.
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Economists who argue that innovation and entrepreneurial activity are the engines of long-run economic growth, define innovation broadly to include not just new products but also new processes, new organizations, new management practices, and new strategies.
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A totalitarian regime can promote economic growth if it commits to a market system and values strong protection of property rights.
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True

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In general, command and mixed economies failed to deliver the kind of sustained economic performance that was achieved by countries adopting market-based systems.
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The gross national income (GNI) per capita comes much closer to Amartya Sen's conception of how development should be measured than narrow economic measures such as Human Development Index (HDI).
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Five of the fastest growing economies of the past 30 years-China, South Korea, Taiwan, Singapore, and Hong Kong-had one thing in common at the start of their economic growth: democratic governments.
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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.
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A shadow economy refers to similar economic activity that takes place in competing nations.
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In a planned economy, there is a great deal of freedom for entrepreneurial activity and reward.
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Advances in technology and communication have fostered the growth of democratic ideals.
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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.
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A strong belief that economic progress leads to adoption of a democratic regime underlies the fairly permissive attitude that many Western governments have adopted toward human rights violations in China.
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Francis Fukuyama promoted the idea that Western liberal democracy would be the final form of human government and lead to a harmonious world.
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If a country's economy is to sustain long-run economic growth, the business environment must be conducive to the consistent production of product and process innovations and to entrepreneurial activity.
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As categorized by Freedom House, citizens in a "partly free" country enjoy a high degree of political and civil freedom.
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Gross national income is a measure of the monthly income received by residents of a nation.
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Nations that have economic freedom also have political freedom.
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A nation that has inadequate enforcement of property rights reduces the motivation for innovative activity.
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During the late 1980s and early 1990s, many totalitarian governments collapsed and were replaced by democratically elected governments.
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Communist nations were the first to adopt deregulation efforts.
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Showing 1 - 20 of 117