Question :
11) Nigeria would be classified by the International Monetary Fund : 1240735
11) Nigeria would be classified by the International Monetary Fund as
A) an advanced economy.
B) a developing economy.
C) a transition economy.
D) an emerging market economy.
E) a resource-based economy.
12) ________ economies include ________.
A) Developing; Saudi Arabia and South Africa
B) Developing; Poland and Russia
C) Developing; China and Poland
D) Emerging; Poland and Brazil
E) Emerging; China and Canada
13) Poland is classified as
A) an advanced economy.
B) a developing economy.
C) a transition economy.
D) an emerging market economy.
E) private economy.
14) The majority of the value of production in the world economy is produced in
A) all of the developing economies taken together.
B) all of Africa and the Middle East taken together.
C) China and other Asian developing economies.
D) all of the advanced economies taken together.
E) all of the emerging market economies taken together.
15) Which of the following correctly describes how the “global pie is baked”?
A) Advanced economies account for about 50 percent of the value of the world’s production.
B) The United States’ share of economic pie is increasing while China’s share is decreasing.
C) The increase in manufacturing has taken place in mainly the advanced economies.
D) Asia accounts for about 40 percent of the global pie.
E) Emerging economies account for about 25 percent of the global pie.
16) Physical capital differences across countries can be seen in the fact that
A) more advanced economies typically have more sophisticated technology.
B) furniture factories in China use machines like those in North Carolina.
C) students in India study the same subjects as those in the United States.
D) advanced economies produce 53 percent of the world’s income.
E) the iPhone’s components are produced in 30 countries.
17) The charitable organization Creating Hope International trains women in Afghanistan to become tailors. This effort reduces
A) physical capital differences between advanced and developing economies.
B) entrepreneurship differences between advanced and developing economies.
C) agricultural differences between advanced and developing economies.
D) manufacturing differences between advanced and developing economies.
E) human capital differences between advanced and developing economies.
18) Which of the following is an example of an effort to decrease physical capital differences between an advanced and a developing economy?
A) American troops build roads in Afghanistan.
B) Through World Vision, women and children in Africa receive education.
C) Peace Corps volunteers teach English around the world.
D) Creating Hope International trains women in Afghanistan to become tailors.
E) Habitat for Humanity builds houses for low income families in the United States.
19) Of the following, the country with the highest average income per day in the world is
A) Japan.
B) the United States.
C) France.
D) Germany.
E) China.
20) Income equality has
A) increased within countries but has narrowed across countries.
B) not changed in the advanced economies over the past 50 years.
C) narrowed within countries but increased across countries.
D) increased in developing economies as manufacturing has decreased.
E) decreased in the United States as manufacturing has increased.
