mkt 321 chapter 7

An emerging country has economic reforms in process while experiencing rapid growth. Based on their descriptions above, which of the following countries are emerging?

Uzbekistan

Deflation occurs when consumers expect prices to

be lower tomorrow than today.

A developed country has an established infrastructure, service-based economy, and is typically highly industrialized with a high per capita income. Based on their descriptions above, which of the following countries are developed?

canada

The Japanese government has tried to stimulate the economy by

cutting interest rates to zero and investing in infrastrucure

Economies with per capita incomes in the low to middle range that are in a transition toward developed status are known as

emerging market economies

As economies move toward greater privatization, there is a greater likelihood of facing the phenomenon that Japan faced due to the stock market collapse. Privatization transfers assets

from state to private owners.

As a general rule, the underground economy in a country will be bigger when

government red tape is oppressive.

A measure of an economy's size based on the market value of goods and services produced within a nation in a year is

gross domestic product

Frank is an economist and often measures the overall economic output of a nation even though he realizes it doesn't account for the flows of FDI and income into and out of the nation. What measure is Frank using?

gross domestic product

GNI/capita, a crude estimate of purchasing power, must be further refined by

incorporating data on how the national income is actually distributed.

The ________ environment includes the interactions between domestic and foreign environmental forces, or between sets of foreign environmental forces when an affiliate in one country does business with customers in another.

international environment

Prior to its stock market crash, Japan enjoyed strong economic growth. However, the country also faced economic risk because

its banking system was overburdened with bad loans.

The major cause/causes of the economic problems that Japan faces is/are the

low birthrate and more retired people.

Generally, because of higher birthrates, developing countries often have

more youthful populations than do developed nations.

_____ is a measure of the number of inhabitants per area unit.

population density

________ is a measure of how the inhabitants are distributed over a nation's area.

population distribution

Jeremiah works for an all-natural breakfast cereal company. He has recommended that the company market their high-cost Oats 'n More Cereal to parts of South America because there are millions of people there that have never heard of their products. Which socioeconomic factor is Jeremiah basing his recommendation on?

population size

Because ________ consumer expenditures eliminate differences in relative prices, marketers use these data to analyze how the composition of consumption changes with the level of development.

ppp-based

A developing country has low income with low to moderate standard of living, low savings rate, and technological dualism. Based on their descriptions above, which of the following countries are developing?

russia

collin's company is interested in the divorce rate in parts of Europe. His company produces single-serving meal kits that might be of interest to people who were married but are now single. Which type of factor is Collin's company analyzing?

socioeconomic

The International Monetary Fund would characterize a developing economy as one in which

technology is not as developed.

Because of the importance of economic information to the control and planning functions at headquarters, the collection of data and preparation of reports are usually the responsibility of

the home office

In 1989, Japan was an economic superpower; it was

the second-largest economy.

Examples of socioeconomic data are

total population, age distribution, and population density and distribution