Imitating labor standards from rich countries in LDCs may increase ?

A. Equality
B. Poverty
C. Employment
D. Human development

PPP is ?

A. A theory that tells us that exchanged rates between currencies are in equilibrium when their purchasing power is the same in both countries
B. Gdp divided by exchange rate
C. A measure of income inequality
D. A measure of infant mortality in developing countries

Infant mortality ?

A. Is defined as the annual number of deaths of infant under 1 year old per 1,000 live births
B. Reflects the availability of primary education the rights of employments and social security
C. Is life expectancy up to age 3
D. Reflects the availability of hospitals and childcare facilities and the parents wealth

The three measure of welfare indicators above comprise the ?

A. Purchasing power parity
B. Physical quality of life index
C. Human development index
D. The laspeyres index

The Human Development Index (HDI) summarizes a great deal of social performances in a single composite index combining ?

A. Disparity reduction rate, human resource development rate and the composite index
B. Longevity, education and living standard
C. Minimum schooling, adult literacy and tertiary educational attainment
D. Human resource training development and r&d

The World Bank’s GNP per capita classification for low income middle income and high income countries respectively is ?

A. Less than $900, $900-$9000 and more than $9000
B. Less than $5000, $5000-$15000 and more than $15000
C. Less than $100, $100-$1000 and more than $1000
D. Less than $5000, $5000-$150000 and more than $150000

The formula for the Laspeyres price index is (o is the base year and n is the given year) ?

A. P = ∑poqo/∑poqo
B. P = ∑poqo/∑pnqn
C. P = ∑pnqo/∑poqo
D. P = ∑poqn/∑poqo

Which of the following is not a problem in comparing developed and developing countries GNP ?

A. Gnp is understated for developed countries, since a number of items included in their national incomes are intermediate goods
B. The economic contribution of a housewife is a peasant family may not be measured is gnp is poor country
C. Gnp in understated for developing countries since many of their labor intensive good have no impact on exchange rate since they are not traded
D. Gnp is overstated for for countries where the price of foreign exchange is less than market clearing price

According to chapter 2 in the text which of the following is true ?

A. The boundary between rich and poor countries has become clearer in 1990s
B. The fastest growing countries must be the ones with the highest per capita gnp
C. A few poor countries like south korea and malaysia in the 1950s grew much more rapidly than some higher-income countries like uruguay and new zealand
D. Today all high and upper-middle income countries are western.

All of the following are high income countries except ?

A. The united kingdom
B. Singapore
C. Japan
D. Hungary