Exam 18: Economic Systems and Developing Countries

By 2000, China had made a number of reforms, but in order to complete the transition process, it still needed to

Developing countries generally have shortages of this:

In recent years, developing countries have shifted their focus from import substitution to export-led growth strategies.

China differs significantly from other East Asian economies because it

There are three fundamental economic questions that must be answered by any economic system. They include all of the following except

Developing countries contend that their terms of trade have worsened in the last 100 years, but it is difficult to prove this for all developing countries.

U.S. companies have not made which of the following products within the U.S. in years?

Promoting the responsible behavior of company executives, in order to avoid what happened in the 2001-2002 Enron/Arthur Anderson fiasco, is an important challenge for which type of economy?

If a developing country puts up trade barriers to protect its domestic rice producers, this is called export-led growth.

The fundamental motivation for change in Eastern European economies was a desire to achieve greater equality in the distribution of income.

While in "transition," which of the following countries created zones in which firms could keep foreign exchange earnings and hire and fire workers?

The problems of developing countries tend to include all of the following except

Under a ______ economy, the government makes all decisions concerning the production and distribution of goods and services.

A primary influence on the manner in which the "who" question gets decided is

In developing countries, obstacles to economic development include all of the following except

A decline in a country's terms of trade is equivalent to an increase in the standard of living because consumers can afford to buy more goods and services.

In 1949, when a revolutionary communist movement took over in China, the country began to model its economy after

Today, most societies have chosen mixed economies instead of purely capitalistic economies or command economies.

For more than 2,000 years, China most often maintained a policy of _________, which caused its economy to lag behind advanced countries.

In 1990, the real per-capita income of the U.S. was about how many times that of people in the Soviet Union?