Openness and Change in the Economic Models of India and China

question 55

Multiple Choice

Openness and change in the economic models of India and China have meant for the world economy all of the following EXCEPT

• A)hundreds of millions of people have escaped poverty.
• B)many manufactured goods and services have become cheaper.
• C)forced some firms to downsize, offshore or otherwise change business practices.
• D)increased the market power of firms in industrialized countries as they gained most from this evolving trade.

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Definitions:

Z Distribution

The Z distribution is a normal distribution that has been standardized so that it has a mean of 0 and a standard deviation of 1; it's also known as the standard normal distribution.

Probability

A quantification of the chance of an event taking place, assigned a value between 0, which denotes that the event is impossible, and 1, which denotes absolute certainty of the event happening.

Uniform Distribution

A type of probability distribution where all outcomes are equally likely over a certain range.

Electronics Test

A process or methodology applied to identify the functionality, reliability, and performance of an electronic device or system.