BUSI 610 Chapter 3 Exam Questions with Verified Answers Latest Update 2024
Common measures for a country's level of economic development (indicators of differences in economic development) - Answers -GNI per capita
-Purchasing Power Parity (PPP) index
Gross National Income (GNI) - Answers measur...
Common measures for a country's level of economic development (indicators of differences in economic
development) - Answers -GNI per capita
-Purchasing Power Parity (PPP) index
Gross National Income (GNI) - Answers measures the total annual income received by residents of a
nation
Purchasing Power Parity (PPP) - Answers an adjustment in gross national income per capita to reflect
differences in the cost of living
a country's level of economic development affects - Answers its attractiveness as a possible market or
production location for firms
pitfall of measuring differences in economic development - Answers official figures can be misleading
because unrecorded cash transactions can be significant
Freedom House tracks - Answers political freedom and civil liberties across countries
high index levels of political and civil liberties reduce - Answers foreign direct investment and economic
growth
describe the global distribution of economic freedom - Answers -most countries are mostly unfree or
moderately free
-purchasing power parity highest among free countries
Human Development Index (HDI) - Answers an attempt by the UN to assess the impact of a number of
factors on the quality of human life in a country
factors measured by the HDI - Answers -life expectancy
-educational attainment
-whether annual incomes are sufficient to meet the basic needs of life in a country
innovation - Answers development of new products, processes, organizations, management practices,
and strategies
innovation requires - Answers -market economy
-strong property rights
-the "right" political system
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