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51) Which Asian country was the first to move from a status of developing country to a newly
industrialized country?
A) Japan
B) Hong Kong
C) South Korea
D) Singapore
E) Taiwan
52) The most rapidly growing economies in the Asia Pacific region during the 1980s and 1990s,
Hong Kong, South Korea, Singapore, and Taiwan, are sometimes referred to as the
A) Four Lions.
B) Four Elephants.
C) Four Dragons.
D) Four Horses.
E) Four Swans.
53) What is common among the Asian countries Hong Kong, South Korea, Singapore, and
Taiwan?
A) They were among the first countries in Asia to move from a status of developing countries to
newly industrialized countries.
B) They have a middle class numbering some 250 million, about the population of the United
States.
C) The exports in these countries are growing at a rate of 50 percent annually.
D) They have faced a serious disadvantage in the information age due to their complex
languages.
E) They all have the custom of "baksheesh," a deeply ingrained system of bribery.
54) What country is at present the center of trade links with north China and the Asian republics
of the former Soviet Union?
A) Japan
B) South Korea
C) Malaysia
D) Singapore
E) India
55) C. K. Prahalad and associates introduced the concept of a global market, not necessarily
defined by national borders but rather by the pockets of poverty across countries and consisting
of 4 billion people across the globe with annual incomes of less than $1,200. They refer to these
regions, concentrated in the LDCs and LLDCs, as ________ markets.
A) subsistence
B) third-world
C) underdeveloped
D) bottom-of-the-pyramid
E) peripheral
56) According to C. K. Prahalad, what misconception leads international markets to ignore the
bottom-of-the-pyramid markets?
A) Products developed for more affluent consumers are not appropriate for BOPMs.
B) Most BOPMs are geographically isolated and thus difficult to access.
C) Protective policies make BOPMs difficult to penetrate.
D) Exchange rate fluctuations make BOPMs very volatile.
E) Language and cultural barriers make BOPMs unattractive and sometimes hostile.
57) C. K. Prahalad and his associates introduced a new concept into the discussion of developing
countries and markets—bottom-of-the-pyramid markets (BOPMs)—consisting of the 4 billion
people across the globe with annual incomes of less than
A) $400.
B) $1,200.
C) $ 2,500.
D) $ 3,700.
E) $ 4,200.
58) C. K. Prahalad has cited two primary misconceptions behind the international marketers
ignoring the bottom-of-the-pyramid markets. One of the reasons is that the products and services
developed for more affluent consumers are not appropriate for these markets. Which of the
following is the other misconception?
A) Unwillingness of consumers in the bottom-of-the-pyramid markets to buy international
products.
B) The lack of uniformity in bottom-of-the-pyramid markets.
C) The heavy taxation system in bottom-of-the-pyramid markets allows little profit.
D) Consumers in the bottom-of-the-pyramid markets lack both money and technology.
E) Consumers in the bottom-of-the-pyramid markets are characterized by conservative traditions
and culture.
59) What appears to be the best way to stimulate economic development and growth from within
developing countries?
A) imposing embargoes
B) encouraging governmental regulations
C) restricting immigration
D) increasing tariffs on exports
E) encouraging networked entrepreneurial activities
60) Grameen Bank is a private commercial enterprise in ________ that developed a program to
supply phones to 300 villages.
A) Bangladesh
B) China
C) Japan
D) Sri Lanka
E) South Korea
61) What is true of the standard of living of the eight most populous countries of the Asia/Pacific
region?
A) The Japanese rail system is one of the most underdeveloped in the world.
B) In the Philippines, most people travel by train.
C) As a result of communism, China and Vietnam place low emphasis on health.
D) The Japanese healthcare system produces the longest lifespans in the world.
E) Consumption patterns indicate that the Chinese place much lower emphasis on education
compared with Indians.
63) The primary multinational trade group in Asia is
A) MERCOSUR.
B) COMESA.
C) CEFTA.
D) SADC.
E) ASEAN.
64) What helps account for the vigorous economic growth of the ASEAN countries and their
transformation from cheap-labor havens to industrialized nations?
A) the ASEAN governments' decision to shift their economies from manufacturing based to
commodity based
B) North Korea's emergence as a major provider of technology and capital necessary to upgrade
manufacturing capability
C) a bilateral trade agreement between the United States and Vietnam leading to the granting of
NTR status to Vietnam
D) Hong Kong becoming a special administrative region (SAR) of the People's Republic of
China
E) the ASEAN governments' commitment to deregulation, liberalization, and privatization of
their economies
65) During the Asian financial crisis, the leading financial powers seemingly either declined to
take part in the rescue operations, as the United States did in Thailand, or proposed unattainable
solutions. The result was the creation of
A) SADC.
B) NAFTA.
C) ASEAN+3.
D) CEFTA.
E) COMESA.
66) One target of ASEAN Vision 2020 is to
A) implement fully and as rapidly as possible the ASEAN Free Trade Area.
B) form the ASEAN+3 to deal with trade and monetary issues facing Asia.
C) shift Asian economies from manufacturing based to commodity based.
D) aid Japan's emergence as the major provider of technology and capital necessary to develop
new industries.
E) prevent the further privatization of state-owned industries.
29
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No reproduction or distribution without the prior written onsent of McGraw-Hill Education.
67) The first meeting of the members of the ASEAN+3 was devoted to devising a system
whereby the member countries could
A) defend their currencies against future attack.
B) improve the multilateral trade.
C) keep inflation in check.
D) acquire nuclear technology.
E) improve agricultural production.
Answer: A
Explanation: The first meeting of ASEAN+3 was devoted to devising a system whereby the
member countries shared foreign exchange reserves to defend their currencies against future
attack. Although they were only tentative, the members of ASEAN+3 also discussed creating a
common market and even a single currency or, perhaps, a new Asian entity encompassing both
Northeast and Southeast Asia.
Difficulty: 1 Easy
Topic: Economic and Political Arguments Surrounding Regional Economic Integration
Learning Objective: 11-05 The interrelationships among countries in the region.
Bloom's: Remember
AACSB: Analytical Thinking
Accessibility: Keyboard Navigation
68) ________ is a unique forum that has evolved into the primary regional vehicle for promoting
trade liberalization and economic cooperation, and includes all the major economies around the
Pacific Rim, from Russia to Chile to Australia.
A) NAFTA
B) ASEAN
C) ASEAN+3
D) SADC
E) APEC
69) What is true of APEC?
A) Russia is not a member of this group.
B) It is opposed to open trade.
C) Its members meet every six months.
D) It promotes economic cooperation.
E) It aims to increase barriers to investment.
70) Which region is considered the information technology (IT) corridor in north China?
A) Beijing–Tianjin
B) Heilongjiang
C) Liaoning
D) the Jilin River Delta
E) Fujian
71) ________ contains Hong Kong, Macau, Guangzhou, and Shenzhen and is considered the
world's manufacturing base for the IT industry.
A) Northeast China
B) The Yellow River Delta
C) The Yangtze River Delta
D) The Pearl River Delta
E) Southwest China
72) The national language of China is standard ________, but more than 56 dialects and other
languages are spoken across the country.
A) Wu
B) Min
C) Cantonese
D) Xiang
E) Mandarin
73) What is most likely to cause the biggest problems for television and radio advertisers in
China?
A) low levels of television and radio penetration
B) the rigid theocratic rule
C) lack of common language
D) the rigid adherence to traditional values
E) lack of investment
74) The three contiguous provinces in Northeast China—________, Jilin, and Heilongjiang—
have long represented a cohesive unit in terms of culture and the political economy.
A) Gansu
B) Shanxi
C) Henan
D) Liaoning
E) Sichuan
75) The most important advantage of Northeast China that mainly contributed toward its being
the industrial and technological center of the country in the 1970s and 1980s is
A) its juxtaposition with China's most important industrial neighbors.
B) the lack of economic diversity in this area.
C) the existence of oil fields these areas.
D) that it contains Hong Kong, Macau, Guangzhou, and Shenzhen.
E) its authority to impose embargoes upon trading partners.
76) Liaoning province of Northeast China has the closest economic ties with
A) Japan.
B) South Korea.
C) Russia.
D) United Kingdom.
E) North Korea.
77) Which province of China shares the closest economic ties with South Korea?
A) Liaoning
B) Jilin
C) Heilongjiang
D) Guangdong
E) Hainan
78) Which province of China shares the closest economic ties with Russia?
A) Liaoning
B) Jilin
C) Heilongjiang
D) Guangdong
E) Hainan
79) _______ is now Japan's most important trading partner.
A) Malaysia
B) The United States
C) Bangladesh
D) Bahrain
E) China
80) ________ at the southern tip of the Liaodong Peninsula in China is the focus of bi-national
relationships and has one of the world's largest and most modern port facilities.
A) Dalian
B) Jilin
C) Heilongjiang
D) Guangdong
E) Hainan
