2004APR_EC2222[1] - EC2222 NATIONAL UNIVERSITY OF SINGAPORE...

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Unformatted text preview: EC2222 NATIONAL UNIVERSITY OF SINGAPORE EC2222 ECONOMY OF MODERN CHINA (I) (SEMESTER II : AY2003-2004) Time Allowed : 2 Hours INSTRUCTIONS TO CANDIDATES 1. This examination paper contains 20 questions and comprises 5 printed pages. 2. For Section I, Answer all 15 questions. Note that there maybe more than one correct answers for the multiple choice questions. 3. For Section II, Answer all 3 questions. 4. For Section III, Answer only 1 of the 2 questions. 5. This is a CLOSED BQOK examination. Students are allowed to bring into the hall an A4 sized paper with notes printed on both sides. 2 EC2222 QUESTIONS 1 TO 10 ARE COMPULSORY Section 1: Multiple choice questions: there mazbe more than one correct answers for each guestion (35 points). 1. Which of the following economies is the least open to imports? a. Germany; b. Japan; c. Malaysia; d. Singapore. 2. China’s “Great Leap Forward” started in which year? a. Late 19505; b. Late 19605; c. Late 19705; d. Late 19805. 3. China’s current economic reforms started in which year? a. Late 19505; b. Late 19605; c. Late 19705; cl. Late 19805. 4. Which of the following economic problems is mainly a development problem but not a key outcome of economic transition from central planning to market economy? a. Corruption; b. Income inequality; c. Lay-offworkers; d. Pollution. 5. Which of the following would you expect to have the lowest total factor productivity? a. Foreign invested firms; b. Joint-stock holding companies; c. Private firms; d. State owned enterprises. 6. China’s recent experience is important viewed from the following aspects, except which? a. Achieving growth using export-oriented trade policies; b. Creating a dualist economy; c. Improving overall standard of living; d. Setting up and developing market institutions. 3 EC2222 7. Which of the following is (are) true? a. China’s economic growth is among the 10 fastest countries during the last decade; b. China’s per capita arable land is among the 10 largest countries; c. China’s per capita income is among the 10 highest countries; d. China’s population growth is the world fastest during the past 5 years. 8. Which of the following is (are) true for China in the late 19th centum? a. The economy was among the world largest; b. The technology was among the world most advanced; c. The population was among the world largest; d. Ruled by the Nationalist Republic government. 9. Which of the following is (are) true in China? a. Birth rate is higher in cities than in rural areas; b. Current boy/girl ratio for newborn babies is unusually low; c. One-child policy is effective to reduce population growth in 805; d. Population policy started in 1980; 10. Which of the following is n_ot a key feature of China’s socialist central planning? a. Extensive use of material incentives; b. Material balance planning; c. Party dominance in economic activities; d. Public ownership of key resources. 11. Which of the following is (are) among the early reforms undertaken? a. Establish Special Economic Zones in northeast China; b. Privatize state owned enterprises; c. Raise procurement prices for agricultural products; cl. Restructure the state banking sector. 4 EC2222 12. Which of the following can best characterize the economic reform during its early years in China? a. d. Is a continuing process and has been implemented based upon a comprehensive arrangement; Is a continuing process and has been implemented through experimenting; Is a rapid process and was implemented according to a comprehensive arrangement; Is a rapid process and was carried out through experimenting. 13. Which of the following is n_ot true? a. There is a growing income inequality between skilled and unskilled workers; There is a growing income inequality between rural residents and urban residents; There is a growing income inequality between SOEs’ and private firms’ employees; There is growing income inequality between the eastern part and the western part of China. 14. Which of the following is n_ot a key concern during early SOE reforms? a. b. c. d. To improve manager incentives; To preserve stable employment; To resolve soft budget constraints problem; To reinforce government control. 15. Which of the following is [m characteristic of China’s trade regime under central planning? a. b. Domestic and trade sector are separated; The government monopolizes trade related activities; There are many government controlled trading companies; Trade regime is an element of China’s “Import substitution industrialization”. 5 EC2222 QUESTIONS 16 TO 18 ARE COMPULSORY Section II: Short answer questions (35 points). 16. Why are most of China’s economic activities concentrated in the east part of the country? (10 points) 17. What are China’s “Three Agriculture Problems (San Nong Wen Ti)”? Point out the key reasons why they are crucial for China’s continuous economic development? (15 points) 18. Earlier economic reforms received wide support from the general population. Point out the main reasons why this is the case. (10 points). ANSWER ONE QUESTION FROM QUESTIONS 19 TO 20. Section III: Essay questions (30 points). 19. Evaluate the development of China’s industry since the reform. a. What are the key measures implemented to reform China’s industrial sector? What are the effect of these policies in China’s industrial growth and structural changes? Why is industry important to China's overall development? What are the prospects and challenges facing China's industries as a result of its recent WTO accession? In your opinion, how could China best meet these challenges to maintain growth and development in the industrial sector? 20. Evaluate the development of China’s foreign trade since the reform. a. b. c. d. What are the key measures implemented in the area of trade? How have these reforms affected China’s performance in trade? Why are trade important to China’s overall development? What are the main advantages and challenges for China’s trade after joining WTO? In your opinion, what should China do to sustain its success in trade? — END OF PAPER — ...
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This note was uploaded on 09/03/2011 for the course ECONOMICS ec2222 taught by Professor Chan during the Spring '11 term at National University of Singapore.

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2004APR_EC2222[1] - EC2222 NATIONAL UNIVERSITY OF SINGAPORE...

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