Economics - Trade Policies For the Developing Nations
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This is The MCQs of Economics
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Question 1 of 40
1. Question
Which industrialization policy have developing countries used which places emphasis on the comparative advantage principle as a guide to resource allocation:
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Question 2 of 40
2. Question
A widely used indicator to differentiate developed countries from developing countries is:
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Question 3 of 40
3. Question
Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide:
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Question 4 of 40
4. Question
For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except:
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Question 5 of 40
5. 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:
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Question 6 of 40
6. Question
Hong Kong and South Korea are examples of developing nations that have recently pursued _____ industrialization policies:
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Question 7 of 40
7. Question
To be considered a a good candidate for an export cartel, a commodity should:
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Question 8 of 40
8. Question
To be considered a good candidate for export cartel, a commodity should:
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Question 9 of 40
9. Question
To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the
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Question 10 of 40
10. Question
All of the following are trade problems of developing countries except:
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Question 11 of 40
11. Question
To stabilize the prices of primary products international commodity agreements have utilized all of the following except:
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Question 12 of 40
12. Question
The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by:
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Question 13 of 40
13. Question
Among the institutions and policies that have been created to support developing countries are:
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Question 14 of 40
14. Question
Which of the following strategies have developing countries not used to deal with the problem of unstable export markets?
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Question 15 of 40
15. Question
Concerning tariff policy, the United States does not charge:
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Question 16 of 40
16. Question
Because supply and demand conditions for primary products are very price inelastic their prices
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Question 17 of 40
17. Question
Most of developing-country exports consist of
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Question 18 of 40
18. Question
Import substitution is an example of:
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Question 19 of 40
19. Question
Tariff levels in advanced countries tend to be ____ tariff levels in developing countries.
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Question 20 of 40
20. Question
Export-led growth strategies tend to emphasize:
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Question 21 of 40
21. Question
Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of:
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Question 22 of 40
22. Question
_____ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production
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Question 23 of 40
23. Question
The Generalized System of Preferences (GSP) program allows:
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Question 24 of 40
24. Question
In the question Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that ____ has declined.
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Question 25 of 40
25. Question
Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries ____ their export of tin
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Question 26 of 40
26. Question
Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be ____ the size of the quantity fluctuations
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Question 27 of 40
27. Question
Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations
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Question 28 of 40
28. Question
An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is ____ and the ____ it is for the member producer countries to store/stock pile bauxite
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Question 29 of 40
29. Question
Economic growth occurs because:
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Question 30 of 40
30. 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:
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Question 31 of 40
31. Question
The OPEC oil cartel:
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Question 32 of 40
32. Question
The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process
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Question 33 of 40
33. Question
The People’s Republic of China:
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Question 34 of 40
34. Question
Membership in the World Trade Organization for china:
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Question 35 of 40
35. 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?
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Question 36 of 40
36. Question
Poor developing countries typically impose ____ tariffs than rich advanced nations on imports
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Question 37 of 40
37. Question
Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals ____ quantity equals ____ and profits total ____
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Question 38 of 40
38. Question
Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is____ the price equals ____ and profits total _____
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Question 39 of 40
39. Question
Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would:
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Question 40 of 40
40. Question
Instead, assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would:
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