[{"id":214229,"question":"Debit (-) items in the balance of payments correspond to anything that.","choices":[{"text":"Involve receipts from foreigners","value":"A"},{"text":"Involves payments to foreigners","value":"B"},{"text":"Increase the domestic money supply","value":"C"},{"text":"Decrease the demand for foreign exchange","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214228,"question":"Credit (+) items in the balance of payments correspond to anything that.","choices":[{"text":"Involves receipts from foreigners","value":"A"},{"text":"Involves payments to foreigners","value":"B"},{"text":"Increases the domestic money supply","value":"C"},{"text":"Decrease the demand for foreign exchange","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214227,"question":"A country that is a net international debtor initially experiences a.","choices":[{"text":"Larger savings pool available finance domestic spending","value":"A"},{"text":"Higher interest rate which leads lower domestic investment.","value":"B"},{"text":"Loss of funds to trading partners overseas","value":"C"},{"text":"Decrease in tis services exports to other countire.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214226,"question":"Multinational corporations","choices":[{"text":"Always produce primary goods","value":"A"},{"text":"Always produce manufactured goods","value":"B"},{"text":"Products primary goods or manufactured goods","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214225,"question":"When imports from a higher cost supplier with in customs union replace imports from a lower cost supplier outside the custom union, there exists.","choices":[{"text":"Trade creation","value":"A"},{"text":"Trade diversion","value":"B"},{"text":"Dynamic welfare effects","value":"C"},{"text":"Comprehensive welfare efffects","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214224,"question":"A _________ is a regional trading block in which member countries eliminate intercanal trade barriers but maintain existing barriers against countries that are not members.","choices":[{"text":"Free trade area","value":"A"},{"text":"Customs union","value":"B"},{"text":"Common market","value":"C"},{"text":"Monetary union","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214223,"question":"__________ is a said to exist when the formation of a regional trading group leads to the reduction of trade with nonmember countries infavor of member countries.","choices":[{"text":"Trade creation","value":"A"},{"text":"Trade diversion","value":"B"},{"text":"Trade exclusion","value":"C"},{"text":"Trade distortion","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214222,"question":"The NAFTA is a","choices":[{"text":"Monetary union","value":"A"},{"text":"Free trade area","value":"B"},{"text":"Common market","value":"C"},{"text":"Customs union","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214221,"question":"Poor developing countries typically impose ______ tariffs than rich advanced nations on imports.","choices":[{"text":"Lower","value":"A"},{"text":"Higher","value":"B"},{"text":"About the same height","value":"C"},{"text":"None of the above","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214220,"question":"Which of the following organizations primarily provides long term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads.","choices":[{"text":"World Bank","value":"A"},{"text":"International Monetary fund","value":"B"},{"text":"Council on foreign Relations","value":"C"},{"text":"Organization of petroleum exporting countries","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214219,"question":"Developing countries that concentrate production in agricultural products or raw materials may face a long run decline in their international terms of trade because of.","choices":[{"text":"Inelastic demand for these products in advanced countries.","value":"A"},{"text":"Large increase in the supplies of these products on world markets because of export expansion polices","value":"B"},{"text":"sluggish demand for these products in advanced countries","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214218,"question":"__________ policies attempt to foster industrialization by establishing high barriers to import of foreign goods to promote local production.","choices":[{"text":"absolute advantage","value":"A"},{"text":"Comparative advantage","value":"B"},{"text":"Export led growth","value":"C"},{"text":"Import substitution","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214217,"question":"Tariff levels in advanced countries tend to be ___ tariff levels in developing countries.","choices":[{"text":"Higher than","value":"A"},{"text":"Equal to","value":"B"},{"text":"Lower than","value":"C"},{"text":"There is no general pattern","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214216,"question":"Import substitution is an example of","choices":[{"text":"The principle of comparative advantage","value":"A"},{"text":"The pricnipal of absolute advantage","value":"B"},{"text":"An outward looking growth strategy","value":"C"},{"text":"An inward looking growth strategy","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214215,"question":"Which of the following strategies have developing countries not used to deal with the problem of unstable export markets.","choices":[{"text":"Multilateral contracts","value":"A"},{"text":"Production and export controls","value":"B"},{"text":"Buffer stock arrangements","value":"C"},{"text":"Tariff rate quotes","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214214,"question":"Among the institutions and polices that have been created to support developing countries are.","choices":[{"text":"the World bank","value":"A"},{"text":"The international Monetary Fund","value":"B"},{"text":"The Generalized system of Preferences","value":"C"},{"text":"All of the above","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214213,"question":"To stabilize the prices of primary products international commodity agreements have utilized all of the following except.","choices":[{"text":"Tariff -rate quotas applied to imported goods.","value":"A"},{"text":"Production and export controls.","value":"B"},{"text":"Buffer stocks","value":"C"},{"text":"Multilateral contracts","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214212,"question":"All of the following are trade problems of developing countries except.","choices":[{"text":"Unstable export markets","value":"A"},{"text":"improving terms of trade","value":"B"},{"text":"Limited access to the markets of industrial countries","value":"C"},{"text":"Highly elastic demand curves for their products.","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214211,"question":"To help developing nations strengthen their international competitive rises many industrial nations have granted non nations udder the .","choices":[{"text":"International commodity engravement's program","value":"A"},{"text":"Multilateral contract program","value":"B"},{"text":"Generalized system of preferences program","value":"C"},{"text":"Export led growth program","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214210,"question":"To be considered a good candidate for an export cartel a commodity should.","choices":[{"text":"Be a manufactured good","value":"A"},{"text":"Be a primary product","value":"B"},{"text":"Have a high price elasticity of supply","value":"C"},{"text":"Have a low price elasticity of demand","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214209,"question":"The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as.","choices":[{"text":"Normal trade relation status","value":"A"},{"text":"Most favored nation status","value":"B"},{"text":"Most favored nation status","value":"C"},{"text":"Generalized system of preferences","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214208,"question":"A widely used indicator to differentiate developed countries from developing countries is.","choices":[{"text":"International trade per captia","value":"A"},{"text":"Real income per capita","value":"B"},{"text":"Unemployment per capita","value":"C"},{"text":"Calories per capita","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214207,"question":"Which industrialization policy has developing countries used which places emphasis on the comparative advantage principle as a guide to resource allocation.","choices":[{"text":"Export promotion","value":"A"},{"text":"Import substitution","value":"B"},{"text":"International commodity agreements","value":"C"},{"text":"Multilateral contrracts.","value":"D"},{"value":"E"}],"correctAnswer":1},{"id":214206,"question":"The theory of ___________ suggests that government can assist domestic companies in capturing economic profits from foreign competitors","choices":[{"text":"International dumping","value":"A"},{"text":"Countervailing duties","value":"B"},{"text":"Strategic trade policy","value":"C"},{"text":"Export promotion policy","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214205,"question":"The organization that currently establishes rules of conduct for firms engaging in international trade is the.","choices":[{"text":"World Bank","value":"A"},{"text":"International Trade commission","value":"B"},{"text":"Department of Justice","value":"C"},{"text":"World Trade Organization","value":"D"},{"value":"E"}],"correctAnswer":4},{"id":214204,"question":"The effect of the most favored nation clause is to.","choices":[{"text":"Eliminate all tariffs between countries","value":"A"},{"text":"Increase all tariff rates between countries.","value":"B"},{"text":"Maintain a nondiscriminatory structure of tariffs","value":"C"},{"text":"Maintain a discriminatory structure of tariffs","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214203,"question":"The result of antidumping tariffs is to.","choices":[{"text":"increase consumer surplus in the importing country","value":"A"},{"text":"Decrease producer surplus in the importing country","value":"B"},{"text":"Impose a price floor on foreign prices in the importing country","value":"C"},{"text":"Impose a price celling on foreign prices in the importing county","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214202,"question":"Anti dumping duties applied to imported goods.","choices":[{"text":"Are abolished by the world Trade Organization","value":"A"},{"text":"Result in decreases in consumer surplus for domestic households","value":"B"},{"text":"Are imposed by industrial countries but not developing countries.","value":"C"},{"text":"Result in lower priced goods for domestic consumers","value":"D"},{"value":"E"}],"correctAnswer":2},{"id":214201,"question":"The world trade organization is sometimes criticized for all of the following reasons except.","choices":[{"text":"If reduces the sovereignty of member countries.","value":"A"},{"text":"Favors free trade over the quality of the environment","value":"B"},{"text":"It has no way to solve trade disputes among member countries.","value":"C"},{"text":"It is a \"puppet\" of multinational corporations","value":"D"},{"value":"E"}],"correctAnswer":3},{"id":214200,"question":"All of the following are fundamental to the world trade organization except.","choices":[{"text":"Bilateral tariff reductions to promote trade liberalization.","value":"A"},{"text":"the use of the most favored nation clause","value":"B"},{"text":"Nondiscrimination trading relationships","value":"C"},{"text":"The prohibition of import quotas and export quotas","value":"D"},{"value":"E"}],"correctAnswer":1}]