POSC003 Week 10 Quiz

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Across
  1. 2. a convergence of views about a set of policy principles necessary for economic growth which was adopted by the World Bank and IMF and promoted around the world. Term coined by John Williamson.
  2. 5. The process of trimming budget deficits, removing protectionist trade barriers, eliminating price controls, privatization, etc.
  3. 8. a theory that contends that economic underdevelopment cannot be overcome until the society in question abandons its traditional social and institutional structures
  4. 9. A term used by a French economist in the 1950s to indicate the communists states as opposed to the developed countries of the West or developing states
Down
  1. 1. Category of developing countries characterized by rapid economic growth and relatively successful economies; mostly found in Asia
  2. 3. economic policies and institutional arrangements aimed at achieving economic convergence with the living standards prevailing in advanced countries.
  3. 4. Theory that asserts that the advanced capitalist countries of the North dominate the world economy and constitute its “core”
  4. 6. The first of two views that Rodrik explains. In this case, state action is the major factor inhibiting economic growth due to poor policies.
  5. 7. The second of two views that Rodrik explains. In this case, imperfections in the matching of supply and demand can block investment and entrepreneurship, thus blocking economic growth.
  6. 8. The type of society characterized by complex social structure consisting of differentiated, specialized professions all interacting with one another over a relatively wide geographic area