Shimko Chapter 7 164-170

The NICs are located mainly in

• Eastern Europe.

• East Asia.

• Africa.

• South America.

The experience of India in the 1990s is usually invoked to illustrate the

• failure of structural adjustment policies.

• benefits of neoliberal policies.

• success of import substitution strategies.

• success of structural adjustment policies.

Global economic inequalities

• have always been a feature of international politics.

• have become less pronounced since the beginning of the industrial revolution.

• reflect the uneven impact of the industrial revolution.

• are correlated with the possession of natural resources.

In order to receive IMF loans, recipients must agree to reduce barriers to international trade and investment.

• True

• False

The “Washington Consensus” is critical of neoliberal policies.

• True

• False

Liberal/neoliberal economic theory assumes that economic development is possible for all nations in a capitalist international order.

• True

• False

The ___________________consensus assumes that free trade and limited government promote economic development.

• Washington

• European

• London

• Paris Agreement

______________________ assumes that economic development is a positive-sum process in which the wealth of some nations does not depend on poverty in others.

• Neoliberalism

• Constructivism

• Feminism

• Marxism

• Realism

Where did the IMF get their ideas about how developing economies should behave?

• Milton Friedman

• Margaret Thatcher

• Ronald Reagan

• Karl Marx

• Mahatma Ghandi

What happened in the 1980s that gave free-market capitalists so much confidence?

• The failure of the soviet economy.

• The oil crisis.

• The civil rights movement.

• The creation of the IMF and World Bank.