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| 1 | |
The __________ classifies a country's stage of economic development on the basis of its level of industrialization. |
| | A) | United States |
| | B) | World Trade Organization |
| | C) | European Union |
| | D) | United Nations |
| | E) | Kyoto |
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| 2 | |
Industrially developing countries just entering world trade with relatively low per capita incomes are called: |
| | A) | MDCs (more-developed countries). |
| | B) | LDCs (less-developed countries). |
| | C) | MODCs (most-developed countries). |
| | D) | HSCs (highly sophisticated countries). |
| | E) | none of the above. |
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| 3 | |
Industrialized countries with high per capita incomes such as Canada, France, and Germany are called: |
| | A) | MDCs (more-developed countries). |
| | B) | LDCs (less-developed countries). |
| | C) | MODCs (most-developed countries). |
| | D) | HSCs (highly sophisticated countries). |
| | E) | none of the above. |
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| 4 | |
Some countries such as Brazil, Mexico, and South Korea are experiencing rapid economic expansion and industrialization and do not exactly fit into established categories of industrialization; therefore, a new category has been created for these countries called: |
| | A) | LDCs (less-developed countries). |
| | B) | LLDCs (least-developed countries). |
| | C) | MDCs (more-developed countries). |
| | D) | NICs (newly industrialized countries). |
| | E) | ICCs (infrastructure contributing countries). |
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| 5 | |
NICs such as Brazil, Mexico, and South Korea have all shown the characteristics listed below EXCEPT FOR the characteristic of: |
| | A) | political instability in policies that somewhat retards certain forms of growth. |
| | B) | economic and legal reforms. |
| | C) | entrepreneurship. |
| | D) | planning. |
| | E) | incentives to force a high rate of domestic savings. |
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| 6 | |
Which of the following is considered to be an infrastructure variable that might affect growth of an economy? |
| | A) | roads |
| | B) | railroads |
| | C) | communications networks |
| | D) | energy supplies |
| | E) | All of the above are infrastructure variables. |
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| 7 | |
Countries begin to lose economic development ground when their infrastructure: |
| | A) | is converted to an Internet-based system. |
| | B) | provides access to previously inaccessible resources. |
| | C) | alters the status quo providing increased mobility of resources. |
| | D) | cannot support an expanding population and economy. |
| | E) | all of the above. |
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| 8 | |
An economy's arbitrator between productive capacity and consumer demand is: |
| | A) | management. |
| | B) | marketing. |
| | C) | advertising. |
| | D) | logistics. |
| | E) | manufacturing. |
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| 9 | |
__________ can jump-start national economies and allow them to leapfrog from high levels of illiteracy to computer literacy. |
| | A) | Synergy effect |
| | B) | Information technology |
| | C) | Increases in consumer demand |
| | D) | Mass transportation |
| | E) | Television |
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| 10 | |
If a country is in the marketing phase (mass distribution sub-stage) of the evolution of the marketing process, its distribution channels are controlled by the: |
| | A) | traditional authority. |
| | B) | middlemen. |
| | C) | producer only. |
| | D) | retailer only. |
| | E) | producer/retailer. |
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| 11 | |
The companies that will benefit in _____________ are the ones that invest when it is difficult and initially unprofitable. |
| | A) | more-developed countries |
| | B) | social reform |
| | C) | emerging markets |
| | D) | state-run enterprises |
| | E) | all of the above |
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| 12 | |
Markets that account for half the world's population and for 25 percent of the industrialized world's GDP are called: |
| | A) | NICs (newly industrialized countries). |
| | B) | BEMs (big emerging markets). |
| | C) | MDCs (more-developed countries). |
| | D) | MODCs (most-developed countries). |
| | E) | none of the above is correct |
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| 13 | |
Big emerging markets share a number of important traits. Which of the following is one of those traits? |
| | A) | are world political forces |
| | B) | are all located in Asia |
| | C) | have all grown at the expense of their neighbors |
| | D) | have significant populations |
| | E) | All of the above are traits of BEMs. |
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| 14 | |
Since the collapse of the Soviet Union, many countries in Eastern Europe have not fared well with respect to GDP (gross domestic product). However, countries that ________________ have done better than those that did not. |
| | A) | instituted market reforms |
| | B) | maintained economic ties to Russia |
| | C) | avoided involvement with the European Union |
| | D) | maintained state monopolies |
| | E) | all of the above |
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| 15 | |
China is said to have a dual economic system, combining ____________ and _____________. |
| | A) | international marketing, interpersonal marketing |
| | B) | code law, common law |
| | C) | demand-pull, cost-push |
| | D) | socialism, capitalism |
| | E) | cooperation, conflict |
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