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WorksheetsKorea Economic Development
Total questions: 8
Worksheet time: 6mins
After liberation from Japan and Korean war, Korea declared ‘Land reformation act’. Which of the following is not related to ‘Land reformation act’?
Government did not take away land owners’ land, if they established education facilities.
Uncompensated Confiscation and free distribution of farmlands
Land Reformation act contributed to increase in rice production and education.
Compensated confiscation and Non-free distribution of farmland.
To reduce illiteracy rate in 1950s, Korea did lots of action. Which of the following is not related to reduce illiteracy rate?
Spent 10% of budget to education
Five year plan for illiteracy reform
Recruiting Japanese teachers after liberation
Compulsory primary education policy
To escape from poverty, Korea started ‘Five-year Economic Development plans’. Which of the following is not related to ‘Five-year Economic Development plans’?
First started with ‘Import substitute policy’ to reduce foreign reliance for importing goods.
Due to lack of capital and technology, ‘Import substitute policy’ isn’t sufficient.
Switching to Export oriented policy in 1964.
Starting Export oriented policy with light industry and later right away jumped to electronic industry.
In 1970s, Korea government invested in Human capital. Which of the following is not related to ‘investment in human capital’?
Implementing mandatory secondary education policy
Establishing more University for higher education demands
To cultivate highly skilled workers built vocational school and technical high schools
Recruiting Korean scientist in abroad for science and technology research
In 1980s, Korea was struggled with 29% of inflation rate. Government took a lot of actions to decrease inflation rate. Which of the following is not related to government’s action?
Expansionary fiscal and monetary policy
Contractionary fiscal and monetary policy
Decreasing national defense budget
Freezing public officials’ wage
Which of the following is not related to Korea’s Economy in 1980-1990s?
Establishment of National pension system and Universal medical insurance
Real name financial act to prevent creating accounts with borrowed name
Capital market wasn’t opened to foreign investors.
Government shifted to market-oriented principles.
Which of the following is not a cause of ‘Foreign exchange crisis' in Korea?
Accelerated capital account liberalization
No proper supervision of introducing rushed foreign short-term funds
Debt-financed management led to a series of collapses
Foreign investors’ indiscriminate withdrawal of funds
Which of the following is not related to action of escaping ‘Foreign exchange crisis’?
Ask IMF for borrowing money and bail out package
Voluntary gold collection campaign
Extensive restructuring policies targeted to corporation, finance, labor and public sectors
Stick to large conglomerate-oriented economic structure
