ECON-GB 2190
Emerging Economies
Midterms (Qns & Ans)
2025
General Instructions
1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-choice
questions might need you to select the best ANS, while essay questions require
detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might not
be accepted.
©2024/2025
,1. Which of the following is a characteristic of an emerging
economy?
- A) High-income levels
- B) Rapid industrialization
- C) Stable political environment
- D) Low population growth
- ANS: B) Rapid industrialization
- Rationale: Emerging economies are characterized by rapid
industrialization and economic growth.
2. In the context of emerging economies, what does the term
"BRICS" stand for?
- A) Brazil, Russia, India, China, South Africa
- B) Brazil, Romania, Indonesia, China, South Korea
- C) Belgium, Russia, India, Chile, Singapore
- D) Brazil, Russia, Italy, China, Spain
- ANS: A) Brazil, Russia, India, China, South Africa
- Rationale: BRICS is an acronym for five major emerging
economies: Brazil, Russia, India, China, and South Africa.
©2024/2025
,3. Which financial institution is primarily responsible for
providing financial assistance to developing countries?
- A) International Monetary Fund (IMF)
- B) World Bank
- C) European Central Bank (ECB)
- D) Federal Reserve
- ANS: B) World Bank
- Rationale: The World Bank provides financial and technical
assistance to developing countries for development projects.
Fill-in-the-Blank Questions
4. The ___________ is a measure of the total economic output of
a country, adjusted for inflation.
- ANS: Real Gross Domestic Product (GDP)
- Rationale: Real GDP measures the value of all goods and
services produced in a country, adjusted for changes in price
levels.
5. ___________ is the process by which a country transitions
from a low-income economy to a high-income economy.
- ANS: Economic Development
©2024/2025
, - Rationale: Economic development involves improvements
in living standards, income levels, and economic productivity.
True/False Questions
6. Foreign direct investment (FDI) is a key driver of economic
growth in emerging economies.
- ANS: True
- Rationale: FDI brings capital, technology, and expertise to
emerging economies, contributing to their growth.
7. In emerging economies, informal sectors typically have a
smaller share of the labor market compared to developed
economies.
- ANS: False
- Rationale: Informal sectors often have a larger share of the
labor market in emerging economies due to limited formal
employment opportunities.
Multiple Response Questions
8. Which of the following are common challenges faced by
emerging economies? (Select all that apply)
©2024/2025
Emerging Economies
Midterms (Qns & Ans)
2025
General Instructions
1. Read All Questions Carefully: Make sure you understand each question.
2. Time Management: You have a specific amount of time to complete the exam.
Keep an eye on the clock and pace yourself.
3. Allowed Materials: Only use materials that are explicitly allowed. Unauthorized
materials can lead to disqualification.
4. ANS Format: Follow the required format for your ANS. For example, multiple-choice
questions might need you to select the best ANS, while essay questions require
detailed responses.
5. Academic Integrity: Adhere to the university's honor code. Any form of cheating or
plagiarism is strictly prohibited.
6. Technical Requirements: Ensure your computer and internet connection are
stable. For online exams, you might need a webcam and microphone for proctoring
purposes.
7. Submission: Submit your ANS before the time expires. Late submissions might not
be accepted.
©2024/2025
,1. Which of the following is a characteristic of an emerging
economy?
- A) High-income levels
- B) Rapid industrialization
- C) Stable political environment
- D) Low population growth
- ANS: B) Rapid industrialization
- Rationale: Emerging economies are characterized by rapid
industrialization and economic growth.
2. In the context of emerging economies, what does the term
"BRICS" stand for?
- A) Brazil, Russia, India, China, South Africa
- B) Brazil, Romania, Indonesia, China, South Korea
- C) Belgium, Russia, India, Chile, Singapore
- D) Brazil, Russia, Italy, China, Spain
- ANS: A) Brazil, Russia, India, China, South Africa
- Rationale: BRICS is an acronym for five major emerging
economies: Brazil, Russia, India, China, and South Africa.
©2024/2025
,3. Which financial institution is primarily responsible for
providing financial assistance to developing countries?
- A) International Monetary Fund (IMF)
- B) World Bank
- C) European Central Bank (ECB)
- D) Federal Reserve
- ANS: B) World Bank
- Rationale: The World Bank provides financial and technical
assistance to developing countries for development projects.
Fill-in-the-Blank Questions
4. The ___________ is a measure of the total economic output of
a country, adjusted for inflation.
- ANS: Real Gross Domestic Product (GDP)
- Rationale: Real GDP measures the value of all goods and
services produced in a country, adjusted for changes in price
levels.
5. ___________ is the process by which a country transitions
from a low-income economy to a high-income economy.
- ANS: Economic Development
©2024/2025
, - Rationale: Economic development involves improvements
in living standards, income levels, and economic productivity.
True/False Questions
6. Foreign direct investment (FDI) is a key driver of economic
growth in emerging economies.
- ANS: True
- Rationale: FDI brings capital, technology, and expertise to
emerging economies, contributing to their growth.
7. In emerging economies, informal sectors typically have a
smaller share of the labor market compared to developed
economies.
- ANS: False
- Rationale: Informal sectors often have a larger share of the
labor market in emerging economies due to limited formal
employment opportunities.
Multiple Response Questions
8. Which of the following are common challenges faced by
emerging economies? (Select all that apply)
©2024/2025
