An agreement between a borrower country and the International Monetary Fund in which the country agrees to revamp its economic policies to provide incentives for higher export earnings and lower imports is a ?

A. Debt rescheduling agreement
B. Debt service agreement
C. Program for growth
D. Stabilization program

How has the relative gap between GNP per capita for Western Europe and GNP per capita for African less-developed countries changed from the late nineteenth century to the present ?

A. Declined
B. Increased
C. Remained the same
D. Cannot be determined

Asian tigers or newly industrializing countries (NICs) of East and Southeast Asia include the following except ?

A. South korea
B. China
C. Taiwan
D. Singapore

The main reason why land reform increase agricultural output is that is ?

A. Encourages mechanization
B. Allows the farmers to set the prices for their agricultural products
C. Enables farmers to escape the problem of diminishing return
D. Makes farmers owners of the land instead of tenants and owners’ farmers are more productive than tenant farmers

When economists say that developing countries have a dualistic economy the 2 parts referred to are ?

A. Modern sector and traditional sector
B. Town and country
C. Men and women
D. Rich people and poor people

Most of the Third World/Fourth World debt was incurred in ?

A. The colonial period
B. The early 1950s
C. Most debt was incurred during the oil shocks of the 1970s
D. The early 1960s

Debt-re-scheduling is ?

A. An agreement with the world bank to turn some of a debt into other forms
B. A change in debt repayment due to inability to pay
C. Regular payments of interest and repayments of capital
D. A program of austerity measures agreed with the imf to make repayment possible

When economists talk about developing countries experiencing flight of capital they mean?

A. Money lent to the country being immediately invested abroad
B. People investing their money in urban business rather than agriculture
C. Money moving around financial institutions rather than being invested in production
D. People investing money abroad rather than in their own country

Developing countries, if compared with other countries, have ?

A. A lower rate of illiteracy
B. A greater degree of equality in the income distribution
C. A lower infant mortality rate
D. A smaller percentage of the labor force in urban areas

The term Fourth World has been coined to describe ?

A. The newly industrialized countries like korea, taiwan malaysia
B. The republics of the former soviet union
C. Countries that still have a communist government like china and cuba
D. Countries that have fallen far behind the economic advances of the rest of the world