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Business in Asia Flashcards | StudBud
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Business in Asia
Business in Asia
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1
What type of entrepreneurship involves arbitrage and adaptation to profit opportunities?
Creative
Revolutionary
Strategic
Adaptive
2
Which of these countries successfully escaped the middle income trap?
Indonesia
South Korea
Hong Kong
Malaysia
3
1.What is one problem caused by Malaysia’s dependence on low-skilled foreign labor?
Reduces unemployment
Discourages firms from innovating
Encourages firms to innovate
Increases inflation
4
Which of the following is not usually a feature of countries trapped in middle income?
Innovation-driven industries
Slowed economic growth
Difficulty reforming institutions
Loss of low-wage advantage
5
What policy limited labour mobility in pre-reform China?
FDI restrictions
Hukou household registration system
Urban migration subsidies
One-child policy
6
What was a major problem in the Chinese economy before economic reforms?
Overreliance on global trade
Lack of agricultural land
Price distortions and state-controlled production
Too much foreign investment
7
Which of the following is not part of economic freedom according to the EFW index?
Legal protection of property
Personal choice
Centralized planning
Voluntary exchange
8
Which of the following is a recommended step to escape the middle income trap?
Focus solely on natural resource exports
Increase subsidies and protect state-owned firms
Invest in human capital and institutional reform
Rely more on low-skilled foreign labor
9
Why does growth slow down for countries in the middle income trap?
High FDI
High inflation
Lost cheap factor cost advantages and innovation-driven growth
Higher exchange rate
10
Why do some countries grow faster than others, according to neoclassical growth theory?
They have higher tax rates
They have faster technological progress and are below their steady state
Their currency is strong
They have more natural resources
11
What is the main engine of economic growth?
Technological progress
International trade
Government spending
Foreign aid
12
What are the three central questions of neoclassical growth theory?
What causes inflation, how to reduce poverty, what drives consumption
What determines growth and differences in income
Why are some countries rich, grow faster and what is the engine of growth
Why are firms efficient, what causes inflation, how to reduce unemployment
13
What is a unique feature of income inequality in China after the reforms?
Urban–suburban income equality
East–West political inequality
Inland–coastal income disparity
Income gap between gender
14
What is the "Middle Income Trap"?
A temporary recession during the transition to high income
A shortage of resources in developing countries
Stagnates at middle-income level and fails to progress to high income
A situation where inflation rises at middle income
15
According to neoclassical growth theory, why are some countries rich and others poor?
Poor countries lack agriculture
Rich countries have stronger military power
Rich countries restrict immigration
Rich countries have a higher savings rate and access to advanced technology
