Which of the following could not be considered a major economic system ?

Related Mcqs:

1. A major dependency theorist Andre Gunder Frank Suggests that the following economic activities have contributed to underdevelopment:

   I- Workers migrating from villages to foreign-dominated urban complexes
   II- Forming an unskilled labor force to work in factories and mines and on plantations
   III- Replacing indigenous enterprises with technologically more advanced global subsidiary companies
   IV- Closing the economy to trade with and investment from, developed countries

   A. I and II only
   B. II and III only
   C. I, II and III only
   D. I , II III and IV

2. Name a default on debt and obligations by a major financial institution that disrupts the stability of the economic system ?

   A. Debt blast
   B. Debt bomb
   C. Bad debt
   D. None of them

3. Singapore and Hong Kong have become major economic powers by taking advantage of their ?

   A. abundant mineral resources
   B. imported cheap labor from Japan
   C. Profits from agricultural surpluses
   D. favorable location on international trade routes

4. Which condition is a major obstacle to economic development in the Middle East and Northern Africa ?

   A. use of strip mining to obtain minerals
   B. reliance on capitalist economic systems
   C. lack of access to world markets
   D. scarcity of water resources

5. In recent years, which factor has been major reason for the economic tensions between the United States and China ?

   A. China’s trade deficit with the United States was very high
   B. The United States refused to place quotas on Chinese goods
   C. The United States imported more from China than it exported to China
   D. China lowered tariffs on goods imported from the United States

6. Mention the name for economic theory that the support of business that allows them to flourish will eventually benefit middle- and lower-income people in the form of increased economic activity and reduced unemployment?

   A. End benefit
   B. Trickle down
   C. Free market
   D. Capitalism

7. Statement A: The might of a country consists of gaining surpluses of gold and silver Statement B: A nation’s strength is found in economic independence and the maintenance of a favorable balance of trade Statement C: We need to gain colonies both as sources for raw materials and as markets for our manufactured of goods Which economic system is being described by these statements ?

   A. traditional
   B. feudal
   C. command
   D. mercantile

8. Identify below what is NOT considered to be a cause of economic growth ?

   A. An increase in the quantity of labor and capital
   B. An increase in labor productivity
   C. An increase in the money supply
   D. An increase in technology

9. Following World War II the United States and other countries sought to liberalize trade among each other the first major postwar step toward trade liberalization was the ?

   A. General Agreement on Tariffs and Trade
   B. World Trade Organization
   C. Smoot Hawley Organization
   D. McKinley Agreement on Trade policy

10. Which of the following country was not a major LDC debtor in 2001 ?

    A. Brazil
    B. Argentina
    C. Thailand
    D. Malaysia