Title: Cat for Lesson 1 - Overview of International Econo...
Course: 383-303-FD-55-01 • International Economics

Test info catégorie

Q: Question

Indicate whether each of the following countries is a developing or developed country.
- Australia | Developing country
- Thailand | Developing country
- Brazil | Developed country
- Japan | Developing country
- Italy | Developed country
If partly right: Votre réponse est partiellement correcte.

Question

What was the name given to the following group of four countries: Hong Kong, Singapore, Taiwan and South Korea?

Entrez votre réponse ci-dessous.
Feedback: Four Tigers or Four Dragons
Feedback: Four Tigers or Four Dragons

Question

What is meant by the "thirty glorious years"?

Entrez votre réponse ci-dessous.
Feedback: The thirty glorious years were a period of strong economic growth between 1945 and 1975.
Feedback: The thirty glorious years were a period of strong economic growth between 1945 and 1975.

Question

Beginning in the 1980s, the term "tightening" was often used. How can tightening be defined in this context?

Entrez votre réponse ci-dessous.
Feedback: - Tightening refers to when countries seek budgetary balance. - To achieve budgetary balance, they must reduce public expenditures. - To reduce public expenditures, government must take a less active role; it therefore withdraws from sectors where it previously took responsibility. This leads to denationalization and deregulation. - Countries closely monitor the rating given by capital markets. Countries with a low budget deficit receive a good rating.
Feedback: - Tightening refers to when countries seek budgetary balance. - To achieve budgetary balance, they must reduce public expenditures. - To reduce public expenditures, government must take a less active role; it therefore withdraws from sectors where it previously took responsibility. This leads to denationalization and deregulation. - Countries closely monitor the rating given by capital markets. Countries with a low budget deficit receive a good rating.

True or false? Justify your answer.

Question

Stagflation is a situation where there is a recession and stagnation at the same time.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. Stagflation is a situation where there is inflation and recession at the same time.
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. Stagflation is a situation where there is inflation and recession at the same time.

True or false? Justify your answer.

Question

Keynesian policies became popular beginning in the 1970s.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. These policies were implemented during the post-war period up until the mid-1970s in the United Kingdom and the United States, and a bit later for other countries.
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. These policies were implemented during the post-war period up until the mid-1970s in the United Kingdom and the United States, and a bit later for other countries.

True or false? Justify your answer.

Question

Keynesian policies work by stimulating effective demand in order to ensure sustained growth.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, This is central to Keyness theory. According to Keynes, effective demand, also known as aggregate demand, is the main determinant for the level of production. Effective demand represents the total of all expenditures made to purchase production: consumer spending, business spending, government spending and net exports (exports minus imports). Keynesian policies influence these areas.
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, This is central to Keyness theory. According to Keynes, effective demand, also known as aggregate demand, is the main determinant for the level of production. Effective demand represents the total of all expenditures made to purchase production: consumer spending, business spending, government spending and net exports (exports minus imports). Keynesian policies influence these areas.

True or false? Justify your answer.

Question

Neo-liberal policies require the government to intervene using monetary, budget or fiscal policies in order to stimulate the economy.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, Neo-liberal policies are associated with government intervention essentially through monetary policies. The three types of policies (monetary, budget and fiscal) used to stimulate the economy are Keynesian-style intervention.
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, Neo-liberal policies are associated with government intervention essentially through monetary policies. The three types of policies (monetary, budget and fiscal) used to stimulate the economy are Keynesian-style intervention.

True or false? Justify your answer.

Question

Neo-liberal policies promote deregulation, denationalization and market liberalization.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, Neo-liberal policies are opposed to Keynesian ideas. The purpose of implementing neo-liberal policies is to reduce government to a minimum, have government withdraw from sectors in which it previously took an active role, and have government intervene less in the economy. This requires deregulation, denationalization and market liberalization.
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, Neo-liberal policies are opposed to Keynesian ideas. The purpose of implementing neo-liberal policies is to reduce government to a minimum, have government withdraw from sectors in which it previously took an active role, and have government intervene less in the economy. This requires deregulation, denationalization and market liberalization.

True or false? Justify your answer.

Question

The welfare state challenges the benefit of social policies such as family allowances or old age pension.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. Neo-liberal policies challenge the benefit of such social policies.
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. Neo-liberal policies challenge the benefit of such social policies.

True or false? Justify your answer.

Question

Advocates of monetary policies and supply-side policies are considered neo-liberals.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, Advocates of supply-side policies and monetary policies are striving to supplant Keynesian economics, which is considered demand-side economics. They believe that government is by nature inefficient and corrupt and should be reduced as much as possible, since the market, in principle, has the answer to everything. They are therefore associated with neo-liberal ideas.
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, Advocates of supply-side policies and monetary policies are striving to supplant Keynesian economics, which is considered demand-side economics. They believe that government is by nature inefficient and corrupt and should be reduced as much as possible, since the market, in principle, has the answer to everything. They are therefore associated with neo-liberal ideas.

True or false? Justify your answer.

Question

At the beginning of the 1980s, there was a resurgence of Keynesian policies.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. Countries implemented neo-liberal policies at that time.
Feedback: La(es) bonne(s) réponse(s) est(sont): 2, False. Countries implemented neo-liberal policies at that time.

True or false? Justify your answer.

Question

When the Italian government sold the Alitalia national airline to the private sector, it was using Keynesian principles.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, 2, False. This is an example of implementing neo-liberal policies.
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, 2, False. This is an example of implementing neo-liberal policies.

True or false? Justify your answer.

Question

When the United States government deregulated air transport, it was applying neo-liberal principles.

Sélectionnez la meilleure réponse puis justifiez votre choix.

Réponse | Choix de réponses
1 | True
2 | False

Justification
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, Deregulation of air transport in the United States is a good example of implementing neo-liberal ideas and policies.
Feedback: La(es) bonne(s) réponse(s) est(sont): 1, Deregulation of air transport in the United States is a good example of implementing neo-liberal ideas and policies.