National Differences In Economic Development

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Question 1
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GNI per capita can be adjusted by purchasing power to account for differences in the cost of living.

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Question 2
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The base for the purchasing power parity adjustment of the GNI is the cost of living in the United States.

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Question 3
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GNI and PPP data are useful because they provide a dynamic analysis of economic development.

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Question 4
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If a country's economy is to sustain long-run economic growth,the business environment must be conducive to innovations and entrepreneurial activity.

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Question 5
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In a planned economy,the means of production are owned by private individuals.

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Question 6
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The economic freedom associated with a market economy creates greater incentives for innovation and entrepreneurship than either a planned or a mixed economy.

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Question 7
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Privatization refers to the process of hiring private management consultancy firms to manage state-owned enterprises.

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Question 8
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The state can expropriate the profits from innovation through legal means.

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Question 9
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Peruvian development economist Hernando de Soto has argued that the chronic inability of property owners to establish legal title to the property they own is a key problem for innovation,and entrepreneurial activity in developing nations.

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Question 10
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Some totalitarian regimes have fostered a market economy and strong property rights protection and have experienced rapid economic growth.

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Question 11
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Totalitarian states promote human freedom and human development,which facilitates economic progress.

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Question 12
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Democracy is one of the consequences of economic growth and progress.

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Question 13
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Anecdotal comparisons suggest that the assertion that nations that invest more in education will have higher growth rates is true.

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Question 14
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Since the late 1980s,there has been a strong move away from a more free market economic model and toward a more centrally planned and mixed economies.

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Question 15
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Many totalitarian regimes were able to deliver economic progress to the vast bulk of their populations,which curbed the spread of democracy during the late 1980s.

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Question 16
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New information and communication technologies have enabled the spread of democratic ideals.

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Question 17
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One of the reasons for the spread of democracy is the emergence of increasingly prosperous middle and working classes who have pushed for democratic reforms.

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Question 18
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Political scientist Samuel Huntington predicts that there will be a more harmonious world dominated by a universal civilization characterized by democratic regimes and free market capitalism.

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Question 19
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According to political scientist Samuel Huntington's thesis,global terrorism is a product of the tension between civilizations and the clash of value systems and ideology.

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Question 20
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Transformation from centrally planned command economies to market-based economies can be attributed to the fact that command and mixed economies failed to deliver the sustained economic performance achieved by countries adopting market-based systems.

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