Question 1

Describe China's reform path,including the forces that started China's reform efforts and how they continued through the 1980s and early 1990s.

Accepted Answer

A long period of instability and disappointment with the economic results achieved under communism led to reform to create more wealth to distribute; it has been a gradual,steady dismantling of the controls exercised by the state and party over the economy.The first reforms were in agriculture,allowing more individual ownership and control over plots of land.Trade was gradually opened through special economic zones.Eventually other regions pushed for similar policies.China applied to join the WTO in 1986 and joined after a protracted period of negotiations which probably kept economic reforms moving forward.

Question 2

Which primary trade partner of India suffered setbacks that ultimately helped lead India to embark on economic reform?

Accepted Answer

A) The United Kingdom 
B) The United States 
C) The Soviet Union 
D) South Korea 
A) The United Kingdom 
B) The United States 
C) The Soviet Union 
D) South Korea C

Question 3

India would raise income levels faster if workers migrated from the country to the city.

Accepted Answer

A) True 
 B)False  True

Question 4

China has few state-owned enterprises left in its economy.

Accepted Answer

A) True 
 B)False

Question 5

Because of China's growth,natural resources

Accepted Answer

A) are in greater demand, but that demand is mostly going to the previously industrialized nations so it is having little effect on economic development in developing countries. 
B) are in greater demand and the natural resources are increasingly coming from developing countries. 
C) prices are falling since China has tremendous negotiating power. 
D) are not in high demand since labor and capital are the emphasized inputs in Chinese manufacturing. 
A) are in greater demand, but that demand is mostly going to the previously industrialized nations so it is having little effect on economic development in developing countries. 
B) are in greater demand and the natural resources are increasingly coming from developing countries. 
C) prices are falling since China has tremendous negotiating power. 
D) are not in high demand since labor and capital are the emphasized inputs in Chinese manufacturing.

Question 6

Who was the leader of India's economic reforms?

Accepted Answer

The answer of Who was the leader of India's economic...

Question 7

China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is NOT a true statement?

Accepted Answer

A) India can easily relocate workers from the country to the city. 
B) India would raise income faster if it moved workers from agriculture to manufacturing. 
C) High agricultural tariffs in India protect rural workers. 
D) India has low tariffs in manufacturing. 
A) India can easily relocate workers from the country to the city. 
B) India would raise income faster if it moved workers from agriculture to manufacturing. 
C) High agricultural tariffs in India protect rural workers. 
D) India has low tariffs in manufacturing.

Question 9

Three forces played a significant role in preparing Indian policy makers for economic reform.Describe them.

Accepted Answer

India's primary trade partner,the USSR,s

Question 10

China exports more services than India.

Accepted Answer

A) True 
 B)False

Question 11

The gravity model predicts that China and India will trade with

Accepted Answer

A) smaller economies that are close by. 
B) larger economies that are close by. 
C) larger economies that are distant. 
D) smaller economies that are distant. 
A) smaller economies that are close by. 
B) larger economies that are close by. 
C) larger economies that are distant. 
D) smaller economies that are distant.

Question 12

In China

Accepted Answer

A) wages are beginning to rise, reducing its comparative advantage. 
B) there is little advantage from scale economies. 
C) the middle class is not expanding. 
D) poor coastal areas limit trade. 
A) wages are beginning to rise, reducing its comparative advantage. 
B) there is little advantage from scale economies. 
C) the middle class is not expanding. 
D) poor coastal areas limit trade.

Question 13

What is the difference between Chinese and Indian trade in services?

Accepted Answer

While China exports more services in tot

Question 14

Analysts that favor a fast transition to market economies argue that China's success with a gradual transition is a special case because

Accepted Answer

A) its trade flows were relatively large. 
B) so much of its labor force was in agriculture. 
C) heavy industry already had a strong foothold when the transition began. 
D) its coastal areas were already relatively well developed. 
A) its trade flows were relatively large. 
B) so much of its labor force was in agriculture. 
C) heavy industry already had a strong foothold when the transition began. 
D) its coastal areas were already relatively well developed.

Question 15

Which of the following is true?

Accepted Answer

A) India is the world's largest democracy. 
B) India began reforming and opening its economy prior to China. 
C) At the end of the twenty-first century, China will have a larger population than India. 
D) India has a larger manufacturing sector than China. 
A) India is the world's largest democracy. 
B) India began reforming and opening its economy prior to China. 
C) At the end of the twenty-first century, China will have a larger population than India. 
D) India has a larger manufacturing sector than China.

Question 16

Which of the following countries has the second highest population in the world?

Accepted Answer

A) Indonesia 
B) Russia 
C) India 
D) China 
A) Indonesia 
B) Russia 
C) India 
D) China

Question 17

Which of the following is NOT a challenge to doing business in China?

Accepted Answer

A) Issues related to the business climate, such as taxes 
B) The availability of credit 
C) Failure to protect intellectual property 
D) Poor infrastructure and port facilities to support export of products 
A) Issues related to the business climate, such as taxes 
B) The availability of credit 
C) Failure to protect intellectual property 
D) Poor infrastructure and port facilities to support export of products

Question 18

Which of the following is FALSE about the transition from communism to capitalism in Russia and China?

Accepted Answer

A) China chose a dual track strategy. 
B) China's transition strategy was considered gradualist. 
C) Russia's transition was aided by the large number of workers it had in heavy industry. 
D) China's transition was aided by the large number of workers it had in rural agriculture. 
A) China chose a dual track strategy. 
B) China's transition strategy was considered gradualist. 
C) Russia's transition was aided by the large number of workers it had in heavy industry. 
D) China's transition was aided by the large number of workers it had in rural agriculture.

Question 19

What is the best explanation for why China and India have received so much international interest and foreign investment?

Accepted Answer

A) Their large populations 
B) Their geographic location 
C) Their control over natural resources 
D) Government incentives provided to foreign firms 
A) Their large populations 
B) Their geographic location 
C) Their control over natural resources 
D) Government incentives provided to foreign firms

Question 20

China is not an important market for other nations' exports.

Accepted Answer

A) True 
 B)False

Describe China's reform path,including the forces that started China's reform efforts and how they continued through the 1980s and early 1990s.

Which primary trade partner of India suffered setbacks that ultimately helped lead India to embark on economic reform?

India would raise income levels faster if workers migrated from the country to the city.

China has few state-owned enterprises left in its economy.

Because of China's growth,natural resources

Who was the leader of India's economic reforms?

China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century.

Which of the following is NOT a true statement?

Three forces played a significant role in preparing Indian policy makers for economic reform.Describe them.

China exports more services than India.

The gravity model predicts that China and India will trade with

In China

What is the difference between Chinese and Indian trade in services?

Analysts that favor a fast transition to market economies argue that China's success with a gradual transition is a special case because

Which of the following is true?

Which of the following countries has the second highest population in the world?

Which of the following is NOT a challenge to doing business in China?

Which of the following is FALSE about the transition from communism to capitalism in Russia and China?

What is the best explanation for why China and India have received so much international interest and foreign investment?

China is not an important market for other nations' exports.

The United States in a Global Economy

International Economic Institutions Since World War II

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

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Exam 17: China and India in the World Economy

Describe China's reform path,including the forces that started China's reform efforts and how they continued through the 1980s and early 1990s.

Which primary trade partner of India suffered setbacks that ultimately helped lead India to embark on economic reform?

India would raise income levels faster if workers migrated from the country to the city.

China has few state-owned enterprises left in its economy.

Because of China's growth,natural resources

Who was the leader of India's economic reforms?

China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century.

Which of the following is NOT a true statement?

Three forces played a significant role in preparing Indian policy makers for economic reform.Describe them.

China exports more services than India.

The gravity model predicts that China and India will trade with

In China

What is the difference between Chinese and Indian trade in services?

Analysts that favor a fast transition to market economies argue that China's success with a gradual transition is a special case because

Which of the following is true?

Which of the following countries has the second highest population in the world?

Which of the following is NOT a challenge to doing business in China?

Which of the following is FALSE about the transition from communism to capitalism in Russia and China?

What is the best explanation for why China and India have received so much international interest and foreign investment?

China is not an important market for other nations' exports.

The United States in a Global Economy

International Economic Institutions Since World War II

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

Filters