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Quiz 22 :

Macro Policy in Developing Countries

Quiz 22 :

Macro Policy in Developing Countries

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Why do governments in developing countries often seem more arbitrary and oppressive than governments in developed countries?
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Developed nations are considered rich and have high per capita income. They have better technology and institutions to support their economy. While the developing nations are growing nations once considered to be poor, having high growth rate. They haveDeveloping countries have more social interference in economies in comparison to developed ones so government tries to remain oppressive which would help them be in power. It is so because developing countries lack institutional weakness and problems, poverty, underdeveloped fiscal and financial structure, etc. These structural weakness leads to arbitrary and oppressive government.

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What is the difference between development and growth?
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Developed nations are considered rich and have high per capita income. They have better technology and institutions to support their economy. While the developing nations are growing nations once considered to be poor, having high growth rate. They haveThe difference between development and growth is that growth tells about the relative change in the variable or the output of the economy with respect to the previous term, and development means the overall increase in technology, productivity and capacity of an economy over a period of time and it normally does not focuses on any single variable.

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What is meant by "the dual economy"?
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Developed nations are considered rich and have high per capita income. They have better technology and institutions to support their economy. While the developing nations are growing nations once considered to be poor, having high growth rate. They haveDeveloping countries basically has dual economy which is traditional economy as well as internationally oriented modern market sector where foreign currency is used more than domestic one. In dual economy, there is one traditional sector which deals with domestic currency and trade are done in traditional method, while another sector of economy is internationally oriented modern market sector where the dealings are done in foreign currency and contracts which are governed by international laws.

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What are three ways in which the institutions of developing countries differ from those in developed countries?
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Choose any developing country and answer the following questions about it: a. What is its level of per capita income? b. What is its growth potential? c. What is the exchange rate of its currency in relation to the U.S. dollar? d. What policy suggestions might you make to the country?
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Christians are called to be Christ-like, a "light to lighten the nations" (Luke 2:32). a. In light of the basic biblical norms of justice, righ­teousness, and stewardship, how should a nation decide how much development aid to provide devel­oping countries? b. Is it within Christian norms to make that aid conditional? (Hint: Consider the biblical concept of forgiveness, which includes repentance and the restoration of right relationships.) (Religious)
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If you suddenly found yourself living as a poor person in a developing country, what are some things that you now do that you would no
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How does a regime change differ from a policy change ?
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In an earlier chapter, the book described the Grameen bank as an example of a successful micro credit reform. a. Why do many of the micro credit policies focus on women rather than men? b. Does your answer in a suggest anything about other policies that might help developing countries develop? (Feminist)
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Islam considers the interest ona. How could b. How could c. The Islamic Development Bank makes
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It has been argued that development economics has no general theory; it is instead the application of common sense to real-world problems. a. Do you agree or disagree with that statement? Why? b. Why do you think this argument about the lack of generality of theories is made for developing countries more than it is made for developed countries?
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When thinking about development, it is often presented as an analytic exercise, but development policies have very real consequences. a. Who is responsible for economies that fail to develop? b. Who will primarily suffer the consequences from a failure at economic development? c. If your answers to a and b differ, how might that dif­ference affect the development policies chosen? How does this difference possibly affect the choice of devel­opment policies? (Institutionalist)
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What is wrong with saying that people in developing countries are worse off than people in the United States?
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In the 1990s, Germany passed a law requiring businesses to take back and recycle all forms of packaging. A large group of businesses formed a company to collect and recycle these packages. Its costs are 4.5 cents per pound for glass, 9.5 cents per pound for paper, and 74 cents per pound for plastic. This accounts for a recycling cost of about $100 per ton for glass and $2,000 per ton for plastic; the average recycling cost of paper is $500 per ton. A developing country has offered to create a giant landfill and accept Germany's waste at a cost of $400 per ton, which includes $50 per ton sorting and transport costs and a $350-per-ton fee to be paid to the developing country. a. Should Germany accept this proposal? b. Will the proposal benefit the developing country?
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Spend one day living like someone in a developing country. Eat almost nothing and work lifting stones for 10 hours. Then, that same evening, study this chapter and contemplate the bootstrap strategy of development.
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Interview a foreign student in your class or school. Ask about each of the seven obstacles to economic develop­ment and how his or her country is trying to overcome them.
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Does the fact that suicide rates are
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The brief argument for globalization goes something like this. Countries that trade aa. How should a developing economy engage with the global economy: through free trade and financial liberalization policies? b. Would the strategies promoted by the opponents of globalization-more national control and limits on the movement of foreign and domestic capital-be better polices for engaging with the world economy? (Radical)
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How does the exchange rate method of comparing incomes differ from the purchasing power method of comparing incomes?
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Why might an economist favor activist policies in developed countries and laissez-faire policies in developing countries?
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