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WorksheetsECONS Chapter 31 Part 1 (1.0)
Total questions: 10
Worksheet time: 6mins
Economic development is
only relating to an increase in real GDP
multidimensional concept relating to improvements in well-being
the increase in FDI in a country
what is considered as an inward-oriented strategy
export promotion
economic integration
import substitution
choose the one you think is true
ISI protects jobs in the short and long run
ISI leads to high rate of inflation
ISI does not protects the local culture
ISI do not protect the economy from MNC power and bad influence
Below are the necessary policies a country need to adopt for export led growth EXCEPT
liberalized trade
liberalized capital flows
liberalized protectionism
deregulation
Which of these are not the advantage of economic integration?
larger export markets may allow producers to gain economies of scale
larger markets may encourage diversification and reduce dependence on a narrow range of commodities
may encounter trade diversion
if there is free movement of capital, integration provides opportunities for companies to invest in other member countries.
is economic integration good?
yes
no
maybe
depending on the extent of integration
What are NOT the limitations to developing countries upon trade liberalization?
Lack of technology and advancement in developing countries
protectionist policies from developed countries
subsidies by developed countries
Privatization helps ...
low-income people because it's affordable
increase potential output of economy
reduce expenses to both producers and consumers
Why does tariff escalation on imported goods occur?
to protect local producers
price is too low
they don't want the goods
When is country said to be in poverty trap?
when education is low
when there is low government income
when country generates low profit on exports
when a country only focuses its production on one sector
