Part One
Part Two
Part Three
Part Four
Part Five
100
What does it mean when the U.S. dollar appreciates against the Canadian dollar?
Trade surplus in Canada, Canada's is worth less than the american dollar.
100
What is the general term for a less developed nation that has shown significant improvement in its development.
What is newly industrialized country
100
Why would a nation is motivated to provide foreign aid to a less-developed country?
What is foreign aid can increase a nation's market for its own goods.
100
A high level of energy consumption indicates what?
What is a high level of industrialization
100
The most important reason why two countries that have the same GDP can have vastly different standards of living is because of what?
What is population size
200
Specialization leads to
international trade
200
Describe an LDC
What is low capita GDP, low literacy rate, high infant mortality rate and inadequate educational system.
200
Why are foreign investors attracted to less-developed countries in their search for increased profits?
What is take advantage of the natural resources available and an inexpensive labor force.
200
What happens when a nation's currency depreciates?
What is Its products become cheaper to other nations
200
Duty free shops in airports and international boats sell merchandise that can be brought into the country without what?
What is Import tariffs
300
Who is the largest provider of development assistance in the world.
What is the world bank
300
The U.S. placed a limit on the number of cars that can be brought into the country for sale. What is this an example of?
What is an import quota
300
According to the law of comparative advantage a country should
What is specialize and export goods with the lowest opportunity cost.
300
What are the characteristics of a developed nation?
What is high per capita GDP, low infant mortality rates, high literacy rates
400
What methods can a less developed country use to finance its economic development?
internal financing and foreign investment
400
Ecuador has a comparative advantage in the production of bananas over the U.S.
What is Ecuador can produce bananas at lower opportunity cost than the U.S.
400
When a nation's currency appreciates, how is trade with other countries affected?
What is The nations products become more expensive in other countries
400
What does it mean when an economist says that an area specializes in producing certain products?
What is they produce only certain goods rather than everything they need.
400
Why would a country impose a voluntary export restraint on products?
What is to reduce chances that importing country will set up trade barriers
500
What are the consequences of rapid population growth for less developed countries?
Maintain current level of development, a country must increase its employment opportunities by the same rate as its population.
500
What options does a nation have if it is having difficulty making payments?
What is ask lenders for rescheduling of debt in exchange for accepting stabilization program from the IMF
500
The primary of a countries developments is what?
What is Per capita GDP
500
Brain drain is what?
What is the tendency of workers in less developed countries build careers in developed countries
500
Factors such as life expectancy, energy consumption, per capita GDP, literacy rates, and infant mortality rates measure what?
What is measure the development of a country
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