The amount of capital (or goods) that can be obtained in exchange for one's exports can be simply referred to as
a. profit motive. c. terms of trade.
b. dependency. d. import-export balance.
The prices of a country's exports relative to its imports are known as the _________.
a. trade balance c. terms of trade
b. equity of trade d. trade level
World system theorists argue that when countries of the periphery became politically sovereign, or independent, in the nineteenth and twentieth centuries, their ruling elites
a. cut off all economic ties with the world economy.
b. cut off all political ties with the world economy.
c. cut off political and economic ties with the world economy.
d. maintained close economic ties to the world economy.
Some critics suggest that many Western theories of economic and political development failed to anticipate the economic stagnation and political repression in much of the developing world, because a crucial flaw in Western theory was that it focuses
a. mostly on foreign, not domestic forces.
b. mostly on domestic, not foreign forces.
c. on domestic and foreign forces, but ignored economic issues.
d. solely on political forces, but not economic issues.
A theory that suggests that urbanization, secularization, and cultural tolerance that encourage an entrepreneurial spirit are the product of the dismissal of traditional practices is known as
a. dependency theory. c. world-systems theory.
b. modernization theory. d. self-reliance theory.
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