International economic analysis is an important

topic to citizens, managers, policymakers, and

institutions given the growing need to understand
the implication of a country's economic
development programs.
True

False

Per capita GNI is determined by multiplying the

size of GNI of a nation by its total population.
True

False

A country's gross national income is the value of all

production that takes place within a nation's
borders.
True

False
The Human Development Index measures the
average achievements in a country on three basic
dimensions of human development: longevity,
knowledge, and standard of living.
True

False

The Austrian school of economics holds that

inflation of overall prices is the consequence of an
increase in the supply of money by central banking
authorities.
True

False

The so-called "misery index" is the sum of a

country's inflation, unemployment, and poverty
rates.
True

False
Uneven income distribution is largely a problem
confined to poorer nations that have extreme splits
between those who live in urban settings versus
those who live in rural areas.
True

False

The fundamental notion of balance means that all

BOP transactions have an asymmetric receipt.
True

False

True

False
Market economies are typically free from extensive
government restraints.
True

False

In countries where individual goals are given

primacy over collective goals, we are less likely to
find free market economic systems.
True

False

Historically, command economies were found in

communist countries where collectivist goals were
given priority over individual goals.
True

False
The mixed economic system has elements of
command and central-planning economies.
True

False

The Economic Freedom index estimates the extent

to which the government of a country intervenes
with the principles of free choice, free enterprise,
and free prices for reasons that go beyond the basic
need to protect property, liberty, citizen safety, and
market efficiency.
True

False

A free market is a theoretical term that describes a

market that is free from government intervention.
True

False