IT 304 FINAL EXAM QUESTIONS AND VERIFIED
ANSWERS
Who is Gordon Brown? - Answers - Former Prime Minister of England
Former leader of Labor Party
Former Chancellor of the Exchequer
What does Gordon Brown mean by a "Global Ethic" - Answers - Recognizing our
responsibilities to others
The Great Divergence - Answers - Increase in inequalities between societies. Incomes
rose sharply in many countries after 1800 but declined in others.
What did the G8 Summit conclude? - Answers - The solutions to Africa's problems are
found by increasing aid
How many nations does Africa have? - Answers - 53
Professional roles played by Yanis Varoufakis include: - Answers - Minister of finance in
Greece and Professor at the University of Texas at Austin
What does Yanis Varoufakis term as "the cosmos"? - Answers - Universal global
currency
What are the "twin peaks" Yanis Varoufakis refers to in his talk? - Answers - High debt
and high idle cash reserves.
The Cotonou Agreement - Answers - African countries can export goods, duty-free, to
the European Union market.
Andrew Mwenda is from___ - Answers - Uganda
According to Andrew Mwenda, what does Africa lack that prevents its development? -
Answers - Capacity
Governments such as that of Uganda find it more profitable to listen to ____ than its
citizens - Answers - International Monetary Fund (IMF) and World Bank
Malthusian Trap - Answers - Short term income gains were inevitably lost to population
growth.
, The Malthusian Trap, an explanation for socio-economic growth, was proposed by: -
Answers - Reverend Thomas Robert Malthus
In which year was the Bretton Woods Conference held? - Answers - 1944
The following institutions were formed right after the Second World War - Answers -
United Nations, The world bank, WTO
The Industrial Revolution had a profound social effect because of two forces: - Answers
- 1. The nature of technological advance
2. The demographic transition
Which 2 countries accounted for 50-60% of the World Economy in 1500 A.D.? -
Answers - India and China
Agrarian society - Answers - Society who's economy is based on producing and
maintaining crops (agriculture).
John Mynard Keynes proposed.... - Answers - A universal currency and countries
paying into something like the IMF
Industrial revolutions have a tendency to..... - Answers - Increase GDP per person
In the preinduistrial world, technologiucal advance produced _______, not wealth. -
Answers - people
Income per person _________ between 1310's and 1450's because of the plague. -
Answers - doubled
Despite the large income gap, people with lower incomes are _________ happy than
those with higher incomes. - Answers - only moderately less
Of all the voice-calling minutes used in the world in 2011, what percentage was
accounted for by cross-border phone calls? - Answers - 2%
What percent of the world's population consists of first-generation immigrants? -
Answers - 3%
Of all the investment that occurs in the world, what percentage is accounted for by FDI
(foreign direct investment)? - Answers - 10%
By 2030, ____________ of world's population is expected to live in cities: - Answers -
2/3rd
ANSWERS
Who is Gordon Brown? - Answers - Former Prime Minister of England
Former leader of Labor Party
Former Chancellor of the Exchequer
What does Gordon Brown mean by a "Global Ethic" - Answers - Recognizing our
responsibilities to others
The Great Divergence - Answers - Increase in inequalities between societies. Incomes
rose sharply in many countries after 1800 but declined in others.
What did the G8 Summit conclude? - Answers - The solutions to Africa's problems are
found by increasing aid
How many nations does Africa have? - Answers - 53
Professional roles played by Yanis Varoufakis include: - Answers - Minister of finance in
Greece and Professor at the University of Texas at Austin
What does Yanis Varoufakis term as "the cosmos"? - Answers - Universal global
currency
What are the "twin peaks" Yanis Varoufakis refers to in his talk? - Answers - High debt
and high idle cash reserves.
The Cotonou Agreement - Answers - African countries can export goods, duty-free, to
the European Union market.
Andrew Mwenda is from___ - Answers - Uganda
According to Andrew Mwenda, what does Africa lack that prevents its development? -
Answers - Capacity
Governments such as that of Uganda find it more profitable to listen to ____ than its
citizens - Answers - International Monetary Fund (IMF) and World Bank
Malthusian Trap - Answers - Short term income gains were inevitably lost to population
growth.
, The Malthusian Trap, an explanation for socio-economic growth, was proposed by: -
Answers - Reverend Thomas Robert Malthus
In which year was the Bretton Woods Conference held? - Answers - 1944
The following institutions were formed right after the Second World War - Answers -
United Nations, The world bank, WTO
The Industrial Revolution had a profound social effect because of two forces: - Answers
- 1. The nature of technological advance
2. The demographic transition
Which 2 countries accounted for 50-60% of the World Economy in 1500 A.D.? -
Answers - India and China
Agrarian society - Answers - Society who's economy is based on producing and
maintaining crops (agriculture).
John Mynard Keynes proposed.... - Answers - A universal currency and countries
paying into something like the IMF
Industrial revolutions have a tendency to..... - Answers - Increase GDP per person
In the preinduistrial world, technologiucal advance produced _______, not wealth. -
Answers - people
Income per person _________ between 1310's and 1450's because of the plague. -
Answers - doubled
Despite the large income gap, people with lower incomes are _________ happy than
those with higher incomes. - Answers - only moderately less
Of all the voice-calling minutes used in the world in 2011, what percentage was
accounted for by cross-border phone calls? - Answers - 2%
What percent of the world's population consists of first-generation immigrants? -
Answers - 3%
Of all the investment that occurs in the world, what percentage is accounted for by FDI
(foreign direct investment)? - Answers - 10%
By 2030, ____________ of world's population is expected to live in cities: - Answers -
2/3rd
