Newly Industrialized Countries (NICs) Differ from Less-Developed Countries in That

question 14

Multiple Choice

Newly industrialized countries (NICs) differ from less-developed countries in that NICs

• A) include Canada, the United States, and Germany.
• B) attract insignificant or no foreign investment.
• C) have per capita incomes that are lower than other developing countries.
• D) have moved away from restrictive trade practices and instituted significant free market reforms.
• E) have shown slow industrialization and expansion of targeted industries.

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Definitions:

Federal Reserve System

The primary financial institution in the United States tasked with managing monetary policy, overseeing financial organizations, and ensuring the financial system remains stable.

Banks

Financial institutions that accept deposits, offer loans, and provide other financial services.

Financial Institutions

Organizations that provide financial services, such as banks, insurance companies, and stock exchanges.

Open Market Operations

The buying and selling of government securities by a central bank as a means of controlling the money supply and influencing interest rates.