Question 1

In the 1980s,high performance Asian economies (HPAEs)were also known as newly industrialized economies (NIEs).

Accepted Answer

A) True 
 B)False

Question 2

Equal rates of factor growth and/or technological progress in the production of two commodities is:

Accepted Answer

A) immiserizing growth 
B) the central focus of endogenous growth theory 
C) balanced growth 
D) the engine of growth 
A) immiserizing growth 
B) the central focus of endogenous growth theory 
C) balanced growth 
D) the engine of growth

Question 3

During the 1970s and 1980s,the total foreign debt that developing countries accumulated was in the range of $150 billion to $200 billion.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is not one of the three main disadvantages of an import-substitution industrialization strategy?

Accepted Answer

A) Domestic industries can grow accustomed to protection from foreign competition and have no incentive to become more efficient 
B) Import substitution can lead to inefficient industries because of the smallness of the domestic market in many developing nations 
C) After the simpler manufactured imports are replaced by domestic production,import substitution becomes more and more difficult and costly as more capital-intensive and technological advanced imports have to be replaced by domestic production 
D) Unhappy domestic producers who will not like the tariff barriers in their respective industries. 
A) Domestic industries can grow accustomed to protection from foreign competition and have no incentive to become more efficient 
B) Import substitution can lead to inefficient industries because of the smallness of the domestic market in many developing nations 
C) After the simpler manufactured imports are replaced by domestic production,import substitution becomes more and more difficult and costly as more capital-intensive and technological advanced imports have to be replaced by domestic production 
D) Unhappy domestic producers who will not like the tariff barriers in their respective industries.

Question 5

During the 1950s,1960s,and 1970s,developing countries relied upon industrialization for faster technological progress.

Accepted Answer

A) True 
 B)False

Question 6

______________ could be a domestic attempt to stabilize export prices for individual producers of an agricultural commodity.

Accepted Answer

A) Farm equalization committees 
B) Agricultural stabilization commissions 
C) Marketing boards 
D) International commodity agreements 
A) Farm equalization committees 
B) Agricultural stabilization commissions 
C) Marketing boards 
D) International commodity agreements

Question 7

Endogenous growth theory:

Accepted Answer

A) Provides a convincing argument against international trade in that the lack of a single regulatory entity results in the trade of unsafe products for the consumer 
B) Advocates international trade because of the resulting increase of economic growth and development of participating nations 
C) Is disparaging of international trade for the negative effects experienced by larger nations involved 
D) Advocates international growth as a way for larger nations to accelerate slowed growth relative to that of developing countries 
A) Provides a convincing argument against international trade in that the lack of a single regulatory entity results in the trade of unsafe products for the consumer 
B) Advocates international trade because of the resulting increase of economic growth and development of participating nations 
C) Is disparaging of international trade for the negative effects experienced by larger nations involved 
D) Advocates international growth as a way for larger nations to accelerate slowed growth relative to that of developing countries

Question 8

Ghana established a marketing board in which of the following commodities following World War II?

Accepted Answer

A) Cocoa 
B) Rice 
C) Bananas 
D) Iron ore 
A) Cocoa 
B) Rice 
C) Bananas 
D) Iron ore

Question 9

At which international trade gathering was there a successful reduction in trade restrictions and protectionism,averting a revival of inward-looking policies in developing countries?

Accepted Answer

A) Kennedy Round 
B) Doha Round 
C) Uruguay Round 
D) Tokyo Round 
A) Kennedy Round 
B) Doha Round 
C) Uruguay Round 
D) Tokyo Round

Question 10

_______________ is the idea that exports of developing countries to developed countries cannot grow rapidly because of the protectionist policies of the developed countries.

Accepted Answer

A) Seeing the export glass half empty 
B) Export pessimism 
C) Import substitution 
D) Export-led growth 
A) Seeing the export glass half empty 
B) Export pessimism 
C) Import substitution 
D) Export-led growth

Question 11

Which of the following is not one of the most serious problems facing developing countries today?

Accepted Answer

A) The conditions of stark poverty prevailing in many countries 
B) The unsustainable foreign debt of some of the poorest developing countries 
C) The remaining trade protectionism of developed countries against developing countries exports 
D) New International Economic Order 
A) The conditions of stark poverty prevailing in many countries 
B) The unsustainable foreign debt of some of the poorest developing countries 
C) The remaining trade protectionism of developed countries against developing countries exports 
D) New International Economic Order

Question 12

_____________ is the view that exports were the leading sector propelling the economies of the recently settled regions into rapid growth and development during the 19th century.

Accepted Answer

A) Endogenous growth theory 
B) The engine of growth 
C) Balanced growth theory 
D) Immiserizing growth 
A) Endogenous growth theory 
B) The engine of growth 
C) Balanced growth theory 
D) Immiserizing growth

Question 13

What type of international commodity agreement involves the purchase of the commodity when its price falls below an agreed minimum price,and the sale of the commodity when its price rises above the established maximum price?

Accepted Answer

A) Buffer stock 
B) Export controls 
C) Purchase contracts 
D) Marketing Board 
A) Buffer stock 
B) Export controls 
C) Purchase contracts 
D) Marketing Board

Question 14

To this day,international trade remains as strong an engine of growth for regions of recent settlement as it was in the nineteenth century.

Accepted Answer

A) True 
 B)False

Question 15

In 2008,what was the average per capita income of all developing economies?

Accepted Answer

A) $500 - $1000 
B) $500 - $2,000 
C) $3000 - $7000 
D) $8,000 - $9,000 
A) $500 - $1000 
B) $500 - $2,000 
C) $3000 - $7000 
D) $8,000 - $9,000

Question 16

Which of the following is one of the disadvantages of export-oriented industrialization?

Accepted Answer

A) It may be very difficult for developing nations to set up export industries because of the competition from the more established and efficient industries in developed nations 
B) Domestic industries can grow accustomed to protection from foreign competition and have no incentive to become more efficient 
C) Import substitution can lead to inefficient industries because of the smallness of the domestic market in many developing nations 
D) Domestic industries can grow accustomed to protection from foreign competition and have no incentive to become more efficient. 
A) It may be very difficult for developing nations to set up export industries because of the competition from the more established and efficient industries in developed nations 
B) Domestic industries can grow accustomed to protection from foreign competition and have no incentive to become more efficient 
C) Import substitution can lead to inefficient industries because of the smallness of the domestic market in many developing nations 
D) Domestic industries can grow accustomed to protection from foreign competition and have no incentive to become more efficient.

Question 17

Which device has the International Tin Agreement utilized as a way of stabilizing tin prices?

Accepted Answer

A) Multilateral contracts 
B) Export subsidies 
C) Buffer stocks 
D) Export tariffs 
A) Multilateral contracts 
B) Export subsidies 
C) Buffer stocks 
D) Export tariffs

Question 18

Briefly discuss the three most serious problems facing developing countries today.

Accepted Answer

The three most serious problems facing d

Question 19

Which of the following is one of the advantages of export-oriented industrialization?

Accepted Answer

A) It overcomes the smallness of the domestic market and allows a developing nation to take advantage of economies of scale 
B) Production of manufactured goods for export requires and stimulates efficiency throughout the economy 
C) The expansion of manufactured exports is not limited by the growth of the domestic market 
D) It is easier for developing nations to protect their domestic market against foreign competition 
A) It overcomes the smallness of the domestic market and allows a developing nation to take advantage of economies of scale 
B) Production of manufactured goods for export requires and stimulates efficiency throughout the economy 
C) The expansion of manufactured exports is not limited by the growth of the domestic market 
D) It is easier for developing nations to protect their domestic market against foreign competition

Question 20

Export pessimism is the belief that a lack of protectionist policies towards developing countries will lead to a slowing of exports in developed ones.

Accepted Answer

A) True 
 B)False

In the 1980s,high performance Asian economies (HPAEs)were also known as newly industrialized economies (NIEs).

Equal rates of factor growth and/or technological progress in the production of two commodities is:

During the 1970s and 1980s,the total foreign debt that developing countries accumulated was in the range of $150 billion to $200 billion.

Which of the following is not one of the three main disadvantages of an import-substitution industrialization strategy?

During the 1950s,1960s,and 1970s,developing countries relied upon industrialization for faster technological progress.

______________ could be a domestic attempt to stabilize export prices for individual producers of an agricultural commodity.

Endogenous growth theory:

Ghana established a marketing board in which of the following commodities following World War II?

At which international trade gathering was there a successful reduction in trade restrictions and protectionism,averting a revival of inward-looking policies in developing countries?

_______________ is the idea that exports of developing countries to developed countries cannot grow rapidly because of the protectionist policies of the developed countries.

Which of the following is not one of the most serious problems facing developing countries today?

_____________ is the view that exports were the leading sector propelling the economies of the recently settled regions into rapid growth and development during the 19^th century.

What type of international commodity agreement involves the purchase of the commodity when its price falls below an agreed minimum price,and the sale of the commodity when its price rises above the established maximum price?

To this day,international trade remains as strong an engine of growth for regions of recent settlement as it was in the nineteenth century.

In 2008,what was the average per capita income of all developing economies?

Which of the following is one of the disadvantages of export-oriented industrialization?

Which device has the International Tin Agreement utilized as a way of stabilizing tin prices?

Briefly discuss the three most serious problems facing developing countries today.

Which of the following is one of the advantages of export-oriented industrialization?

Export pessimism is the belief that a lack of protectionist policies towards developing countries will lead to a slowing of exports in developed ones.

Introduction to the Global Economy

Comparative Advantage

The Standard Trade Model

The Heckscher-Ohlin and Other Trade Theories

Trade Restrictions: Tariffs

Nontariff Trade Barriers and the Political Economy of Protectionism

Economic Integration

International Resource Movements and Multinational Corporations

Balance of Payments

The Foreign Exchange Market and Exchange Rates

Exchange Rate Determination

Automatic Adjustments With Flexible and Fixed Exchange Rates

Adjustment Policies

Flexible Versus Fixed Exchange Rates,european Monetary Systems,and Macroeconomic Policy Coordination

The International Monetary System: Past, present, and Future

Filters

Exam 8: Growth and Development With International Trade

In the 1980s,high performance Asian economies (HPAEs)were also known as newly industrialized economies (NIEs).

Equal rates of factor growth and/or technological progress in the production of two commodities is:

During the 1970s and 1980s,the total foreign debt that developing countries accumulated was in the range of $150 billion to $200 billion.

Which of the following is not one of the three main disadvantages of an import-substitution industrialization strategy?

During the 1950s,1960s,and 1970s,developing countries relied upon industrialization for faster technological progress.

______________ could be a domestic attempt to stabilize export prices for individual producers of an agricultural commodity.

Endogenous growth theory:

Ghana established a marketing board in which of the following commodities following World War II?

At which international trade gathering was there a successful reduction in trade restrictions and protectionism,averting a revival of inward-looking policies in developing countries?

_______________ is the idea that exports of developing countries to developed countries cannot grow rapidly because of the protectionist policies of the developed countries.

Which of the following is not one of the most serious problems facing developing countries today?

_____________ is the view that exports were the leading sector propelling the economies of the recently settled regions into rapid growth and development during the 19th century.

What type of international commodity agreement involves the purchase of the commodity when its price falls below an agreed minimum price,and the sale of the commodity when its price rises above the established maximum price?

To this day,international trade remains as strong an engine of growth for regions of recent settlement as it was in the nineteenth century.

In 2008,what was the average per capita income of all developing economies?

Which of the following is one of the disadvantages of export-oriented industrialization?

Which device has the International Tin Agreement utilized as a way of stabilizing tin prices?

Briefly discuss the three most serious problems facing developing countries today.

Which of the following is one of the advantages of export-oriented industrialization?

Export pessimism is the belief that a lack of protectionist policies towards developing countries will lead to a slowing of exports in developed ones.

Introduction to the Global Economy

Comparative Advantage

The Standard Trade Model

The Heckscher-Ohlin and Other Trade Theories

Trade Restrictions: Tariffs

Nontariff Trade Barriers and the Political Economy of Protectionism

Economic Integration

International Resource Movements and Multinational Corporations

Balance of Payments

The Foreign Exchange Market and Exchange Rates

Exchange Rate Determination

Automatic Adjustments With Flexible and Fixed Exchange Rates

Adjustment Policies

Flexible Versus Fixed Exchange Rates,european Monetary Systems,and Macroeconomic Policy Coordination

The International Monetary System: Past, present, and Future

Filters

_____________ is the view that exports were the leading sector propelling the economies of the recently settled regions into rapid growth and development during the 19^th century.