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Exam (elaborations)

CRP 291 Exam with correct answers 2024

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  • CRP 291 Exa

Assumptions of neoliberalism correct answers people act rationally and efficiently, individual self interest benefits society, taxation as a means of redistributing income hurts the economy Basics of neoliberalism correct answers monetary policies are more useful than fiscal policies Govt s...

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  • August 20, 2024
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  • 2024/2025
  • Exam (elaborations)
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  • CRP 291 Exa
  • CRP 291 Exa
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CRP 291 Exam 3

Assumptions of neoliberalism correct answers people act rationally and efficiently,
individual self interest benefits society, taxation as a means of redistributing income
hurts the economy

Basics of neoliberalism correct answers monetary policies are more useful than fiscal
policies

Govt should create efficient markets and minimize restrictions on markets

Neoliberalism policies in practice correct answers privatization of public enterprises,
deregulation of economy, tax cuts, restrictions on organized labor, downsizing govt,
expansion of global markets

Causes of Post 1970 economic crisis correct answers world trade stagnation, high
interest rate, capital flight, trade deterioration, domestic issues

Britton Woods institutions and neoliberal policies correct answers IMF- provides funds
for stabilizing currencies in countries facing economic instability

World Bank- focuses more on poorer countries

Both create SAPs, which become the economic policies of developing countries

Countries taking loans from international financial institutions must get approval from
correct answers IMF

Deflationary policies to correct budgeting imbalances (SAP) correct answers tight
control over state spending

limits to money supply

increased interest rates on credits

wage reductions

Expenditure-switching policies (SAP) correct answers currency devaluation

export promotion

tax reforms

, deregulation of imports

Institutional reforms to liberalize trade and promote market efficiency correct answers
deregulation of prices and rates

elimination of barriers to international trade, investment, and currency flows

privatization of state-run activities

Main components of globalization in the third world correct answers economic
liberalization

spread of democracy and limited state control

spread of western culture (including media, internet, etc)

Reverse polarization correct answers turning point from relative concentration to
relative de-concentration in the spatial pattern of urban growth in a city region or nation

Mexico urbanization 1900-1940 correct answers urban population increased faster than
the country's population, most growth occurred in the largest cities

Current urban growth in Mexico correct answers mostly in intermediate cities located
close to large cities, along US-Mexico border, and in independent cities far from large
agglomerations

Mexico's border cities correct answers economy and culture is altered due to proximity
to the US

economy is dominated by maquiladoras, imports - export business, and tourism

Maquiladoras correct answers assembly plants for US sourced components

cheap labor

benefits to Mexico: jobs and skills

Problems of Central America correct answers limited mineral wealth, physical isolation,
poor transportation, small markets, rivalries and duplication, land tenure problems,
Cold-War induced political stability

The Caribbean characteristics correct answers relatively low urbanization, rapid
population growth, disease, and malnutrition, severe poverty in urban areas,
immigration to escape poverty

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