Exam 7: Trade Policies for the Developing Nations

Which method has not generally been used by the international commodity agreements to stabilize commodity prices?

What are some of the growth strategies that have been employed by the developing nations? How successful are these strategies?

Under the Generalized System of Preferences program,the major industrial countries agree to temporarily reduce tariffs on designated imports from other industrial countries.

Figure 7.3.World Oil Market -Consider Figure 7.3.Under competitive conditions,producer profits total:

A primary goal of international commodity agreements has been the:

Concerning the price elasticities of supply and demand for commodities,empirical estimates suggest that most commodities have:

Figure 7.3.World Oil Market -Consider Figure 7.3.Under a profit-maximizing cartel,the quantity of oil produced equals:

Figure 7.2.Defending the Target Price in Face of Changing Supply Conditions -Consider Figure 7.2.Suppose the supply of tin decreases from S₀ to S₂.Under a buffer stock system,the buffer-stock manager could maintain the target price by:

Among the economic problems facing developing countries have been low dependence on primary-product exports,unstable export markets,and worsening terms of trade.

Which device has been used by the International Wheat Agreement to stipulate the minimum prices at which importers will buy stipulated quantities from producers and the maximum prices at which producers will sell stipulated quantities to importers?

By the 1990s,China had departed from a capitalistic economy and shifted to a Soviet-type economy encompassing small-scale,labor-intensive industry.

Figure 7.3.World Oil Market -Consider Figure 7.3.Under competitive conditions,the quantity of oil produced equals:

East Asian economies have performed well by

If the demand schedule for bauxite is relatively inelastic to price changes,an increase in the supply schedule of bauxite will cause a:

During periods of falling demand for coffee,an International Commodity Agreement could offset downward pressure on price by implementing policies to increase the supply of coffee.

Hong Kong and South Korea are examples of developing nations that have recently pursued industrialization policies.

If the supply schedule for tin is relatively inelastic to price changes,a decrease in the demand schedule for tin will cause a:

Stabilizing commodity prices around long-term trends tends to benefit importers at the expense of exporters in markets characterized by:

For most developing countries:

Most developing-nation exports go to industrial nations while most developing-nation imports originate in industrial nations.