GEB 3375 Module 7 Question and
answers correctly solved
Key Differences between India and China - correct answer ✔China:
-Population: 1.37 billion GREATER
-Larger Economy
-Better Infrastructure
-1.12 million millionaires
-MANUFACTURING powerhouse
-Manufacturing labor cost: $3.52/hour
India:
-Population: 1.2 billion LESSER
-6.1 million in college
-200 million fluent in english
-SERVICE powerhouse
-Manufacturing labor cost: $0.92/hour
Key Problems Japan Faces - correct answer ✔-Prior to its stock market
crash, Japan enjoyed strong economic growth. However, the country also
faced economic risk because its banking system was overburdened with bad
loans
-In 1989, Japan was an economic power, it was the second largest economy
-As economies move toward greater privatization, there is a greater likelihood
of facing the phenomenon that Japan faced due to the stock market collapse.
-Deflation, which occurs when consumers expect prices to be lower tomorrow
than they are today
, -The Japanese government has tried to stimulate the economy by cutting
interest rates to zero and investing in infrastructure
-Major causes of the economic problems that Japan faces are the low
birthrate and more retired people
Gross National Income (GNI) - correct answer ✔The total value of all income
generated by the residents of a nation, including both the domestic production
of goods and services and income from abroad
Gross Domestic Product (GDP) - correct answer ✔A measure of an
economy's size based on the market value of goods and services produced
within a nation in a year
Developing economies - correct answer ✔A classification for the world's
lower-income nations, which have less technically developed infrastructures
and lower living standards
Developed economies - correct answer ✔A classification for high-income
industrialized nations, which have high living standards and the most
technically developed infrastructure
Emerging market economies - correct answer ✔Economies with per-capita
incomes in the low to middle range that are in a transition toward developed
status
Purchasing Power Parity (PPP) - correct answer ✔A means of adjusting the
exchange rates for two currencies so the currencies have equivalent
purchasing power
Key Characteristics of developing countries - correct answer ✔-Per capita
GNI less than $12,746
answers correctly solved
Key Differences between India and China - correct answer ✔China:
-Population: 1.37 billion GREATER
-Larger Economy
-Better Infrastructure
-1.12 million millionaires
-MANUFACTURING powerhouse
-Manufacturing labor cost: $3.52/hour
India:
-Population: 1.2 billion LESSER
-6.1 million in college
-200 million fluent in english
-SERVICE powerhouse
-Manufacturing labor cost: $0.92/hour
Key Problems Japan Faces - correct answer ✔-Prior to its stock market
crash, Japan enjoyed strong economic growth. However, the country also
faced economic risk because its banking system was overburdened with bad
loans
-In 1989, Japan was an economic power, it was the second largest economy
-As economies move toward greater privatization, there is a greater likelihood
of facing the phenomenon that Japan faced due to the stock market collapse.
-Deflation, which occurs when consumers expect prices to be lower tomorrow
than they are today
, -The Japanese government has tried to stimulate the economy by cutting
interest rates to zero and investing in infrastructure
-Major causes of the economic problems that Japan faces are the low
birthrate and more retired people
Gross National Income (GNI) - correct answer ✔The total value of all income
generated by the residents of a nation, including both the domestic production
of goods and services and income from abroad
Gross Domestic Product (GDP) - correct answer ✔A measure of an
economy's size based on the market value of goods and services produced
within a nation in a year
Developing economies - correct answer ✔A classification for the world's
lower-income nations, which have less technically developed infrastructures
and lower living standards
Developed economies - correct answer ✔A classification for high-income
industrialized nations, which have high living standards and the most
technically developed infrastructure
Emerging market economies - correct answer ✔Economies with per-capita
incomes in the low to middle range that are in a transition toward developed
status
Purchasing Power Parity (PPP) - correct answer ✔A means of adjusting the
exchange rates for two currencies so the currencies have equivalent
purchasing power
Key Characteristics of developing countries - correct answer ✔-Per capita
GNI less than $12,746
