Part 2-Ch 3: National Differences in Economic Development

What is a common measure of a nation's economic development?

• Human Development Index (HDI)

• Net National Income (NNI)

• Gross Domestic Product (GDP)

• Gross National Product (GNP)

Which country joined the World Trade Organization in 2007?

• Nigeria

• India

• Vietnam

• Brazil

What does the Purchasing Power Parity (PPP) adjustment provide?

• A direct comparison of living standards

• A static picture of development

• An estimate of government debt

• A dynamic picture of development

According to Amartya Sen, development should be assessed by which criteria?

• Economic growth rates

• Capabilities and opportunities

• Political stability

• Material output

What is a significant problem that Vietnam faces despite its economic growth?

• Low agricultural productivity

• High literacy rates

• High levels of foreign investment

• Corruption

Which of the following countries is noted for having high economic freedom?

• North Korea

• Cuba

• Venezuela

• Hong Kong

What is one implication of national differences in political economy for management practice?

• Stability in economic policies

• Increased corruption in all nations

• Uniformity in business regulations

• Variability in property rights enforcement

What trend has been observed in political economies since the late 1980s?

• Increase in totalitarian regimes

• Shift towards free markets

• Decline in democratic revolutions

• Stagnation of economic growth

Which of the following is NOT a factor that influences economic development?

• Geography

• Education

• Demographics

• Cultural festivals

What is a potential risk of doing business in less developed nations?

• High consumer purchasing power

• Political risk

• Stable legal systems

• Low corruption levels