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Exam 3: National Differences in Economic Development

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Question 31

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The country of Morson has decided to privatize the state-owned cable television company. How can the country help this newly privatized industry succeed?

A) impose high corporate taxes on the company immediately after its privatization
B) increase barriers to foreign direct investment
C) intervene in the company's operations by exercising price controls
D) split the company into independent units to compete with each other
E) prohibit foreign companies from entering into the field of telecommunication

F) A) and B)
G) D) and E)

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Question 32

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The cost of doing business is most likely to be the lowest in

A) closed totalitarian states.
B) primitive or undeveloped economies.
C) open democratic societies.
D) countries where local laws and regulations set strict standards with regard to product safety, safety in the workplace, and environmental pollution.
E) countries that lack well-established laws for regulating business practice.

F) B) and C)
G) A) and E)

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Question 33

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Francis Fukuyama saw a world in which ________ was the final form of human government.

As democracy has spread since the 1980s, so has the development of more ________ economies.

In a planned economy, there is a great deal of freedom for entrepreneurial activity and reward.

As a result of ________, large amounts of economic activity in India are not made official and the GDP figures of the country fail to tell the entire story of the economy.

The government of Cafor wants to create a market-based economic system. To do so, the government should

The risks of doing business are most likely to be the highest in a country that

An unfavorable environment for innovations and entrepreneurship is the result of

A shadow economy refers to similar economic activity that takes place in competing nations.

Explain the broad categories of political freedom established by Freedom House and discuss how these categories are represented in the world today.

The late influential political scientist Samuel Huntington predicted that the universalization of Western liberal democracy will be the final form of human government.

The influential economist Jeffrey Sachs argues that which of the following, with their long engagements in international trade, have been the most supportive of market institutions throughout history?

According to economist Hernando de Soto, the key issue in the relationship between capitalism and property rights is the inability of owners to

Some believe that the global financial crisis of 2008-2009 was the result of

Communist nations were the first to adopt deregulation efforts.

Lamboria Republic is facing a high rate of inflation, and the government debt in the country is also high. As a result, the country's business environment is beginning to deteriorate, and the profits of the business enterprises are hurt. According to this information, Lamboria Republic is facing what type of risk?

Purchasing power parity is used to adjust gross national income in order to make a more direct comparison of ________ in various countries.

Validate the argument made by economists that innovation and entrepreneurial activity are the basis for long-term economic growth.

"Not all democracies are free, as some still restrict certain political and civil liberties." Which country best fits this argument?