Question 1

List ways in which the United States simultaneously pursues liberal trade while engaging in certain protective trade policies.

Accepted Answer

Some of the ways are:
- Requiring U.S. foreign aid dollars to be used to purchase U.S. goods.
- Imposing tariffs on certain products, particularly agriculture.
- Using trade policy as a leverage in security issues, such as when the African Growth and Opportunities Act was used to ransom support from African nations on the Security Council when the United States was seeking support for military operations in Iraq.

Question 2

The production of goods is usually dispersed throughout several different countries.

Accepted Answer

A) True 
 B)False  True

Question 3

What must a hegemon do to maintain the international political economy?

Accepted Answer

A)  Remain open and liberal 
B)  Tolerate free riders 
C)  Provide a stable international currency 
D)  Assume leadership 
E)  All of the above are true. 
A)  Remain open and liberal 
B)  Tolerate free riders 
C)  Provide a stable international currency 
D)  Assume leadership 
E)  All of the above are true. E

Question 4

The GATT principle that called for mutual lowering of trade barriers between trading partners was known as __________ .

Accepted Answer

A)  reciprocity 
B)  convertibility 
C)  nondiscrimination 
D)  outsourcing 
E)  transparency 
A)  reciprocity 
B)  convertibility 
C)  nondiscrimination 
D)  outsourcing 
E)  transparency

Question 5

Globalization of labor is a very controversial issue. Why do so many people fear it? What do the studies indicate? MNCs are an integral component of this issue? What are the pros and cons of MNCs? Make sure you discuss issues such as child labor, immigration, slave labor, and unions.

Accepted Answer

Globalization of labor is a controversia

Question 6

Give examples of protectionism during the current world financial crisis.

Accepted Answer

Europe provides subsidies to i

Question 7

During a meeting of the World Trade Organization, anti-WTO activists descended upon the trade talks in Seattle, WA. Why were the protestors there? What were their complaints? Were they justified? Write an in which you decide whether the World Trade Organization is a friend or foe.

Accepted Answer

The protestors were there to voice their

Question 8

Economic sanctions have the greatest impact on autocratic regimes.

Accepted Answer

A) True 
 B)False

Question 9

As the WTO has been largely successful in reducing tariffs, it has begun to confront all but which of the following issues?

Accepted Answer

A)  Agriculture policy 
B)  Intellectual property rights 
C)  Security issues 
D)  Environmental protection measures 
E)  Labor standards 
A)  Agriculture policy 
B)  Intellectual property rights 
C)  Security issues 
D)  Environmental protection measures 
E)  Labor standards

Question 10

Which of the following statements is false regarding the globalization of labor?

Accepted Answer

A)  The use of child or slave labor can be used to gain an unfair advantage over companies that pay a fair wage. 
B)  Mobility of businesses and labor as an integral component of the international economy. 
C)  Corporations will always benefit by moving to a country where labor is less expensive. 
D)  Studies show that multinational corporations need for skilled labor can encourage countries to increase spending on education and health care. 
E)  Increased supply of labor through increased mobility of labor and business raises concerns over the ability of labor to bargain collectively and protect the interests of workers. 
A)  The use of child or slave labor can be used to gain an unfair advantage over companies that pay a fair wage. 
B)  Mobility of businesses and labor as an integral component of the international economy. 
C)  Corporations will always benefit by moving to a country where labor is less expensive. 
D)  Studies show that multinational corporations need for skilled labor can encourage countries to increase spending on education and health care. 
E)  Increased supply of labor through increased mobility of labor and business raises concerns over the ability of labor to bargain collectively and protect the interests of workers.

Question 11

Intra-firm trade is cross-national trade of international goods and services within the same firm.

Accepted Answer

A) True 
 B)False

Question 12

The principle of comparative advantage maintains that

Accepted Answer

A)  instituting trade restrictions, such as nontariff barriers, is an effective way to gain a comparative advantage in certain trade sectors, such as manufactured goods. 
B)  a state should specialize in producing those goods it can produce comparatively cheaply and trade them for goods in which others enjoy a comparative advantage. 
C)  it is comparatively cheaper to protect new domestic industries than to allow them to be destroyed by competition from more established industries in other states. 
D)  because security issues or other "high politics" issues have more public interest, they have a comparative advantage over "low politics" issues when competing for attention from policy makers. 
E)  states should encourage trade with nations that have a similar government structure because they would have a comparative advantage in global trade negotiations. 
A)  instituting trade restrictions, such as nontariff barriers, is an effective way to gain a comparative advantage in certain trade sectors, such as manufactured goods. 
B)  a state should specialize in producing those goods it can produce comparatively cheaply and trade them for goods in which others enjoy a comparative advantage. 
C)  it is comparatively cheaper to protect new domestic industries than to allow them to be destroyed by competition from more established industries in other states. 
D)  because security issues or other "high politics" issues have more public interest, they have a comparative advantage over "low politics" issues when competing for attention from policy makers. 
E)  states should encourage trade with nations that have a similar government structure because they would have a comparative advantage in global trade negotiations.

Question 13

The United States ended its steel tariffs in response to a WTO ruling because it feared retaliatory tariffs from the EU.

Accepted Answer

A) True 
 B)False

Question 14

List at least two regional trade agreements.

Accepted Answer

- North American Free Trade Ag

Question 15

America's trade competitors have long noted and complained that the United States has increasingly engaged in _____________.

Accepted Answer

The answer of America's trade competitors have long noted and...

Question 16

What is the difference between absolute advantage and comparative advantage?

Accepted Answer

Absolute advantage: Countries should pro

Question 17

____________________ is a principle for trade that proclaims that goods produced at home and abroad are to be treated the same for import and export agreements.

Accepted Answer

The answer of ____________________ is a principle for trade that...

Question 18

The GATT principle of nondiscrimination that called for all foreign goods to be treated equally with domestic goods, and that countries are not able to enact policies, such as taxes, to give their products an advantage over foreign products is called _______.

Accepted Answer

A)  national treatment 
B)  most-favored nation status 
C)  transparency 
D)  liberalization 
E)  reciprocity 
A)  national treatment 
B)  most-favored nation status 
C)  transparency 
D)  liberalization 
E)  reciprocity

Question 19

Liberals emphasize the mutual gains (absolute gains) of global trade whereas mercantilists are more concerned with relative gains.

Accepted Answer

A) True 
 B)False

Question 20

Voluntary export restrictions are agreements in which exporting countries agree to restrict shipments of a particular product to a country to deter it from imposing an even more onerous import quota.

Accepted Answer

A) True 
 B)False

List ways in which the United States simultaneously pursues liberal trade while engaging in certain protective trade policies.

The production of goods is usually dispersed throughout several different countries.

What must a hegemon do to maintain the international political economy?

The GATT principle that called for mutual lowering of trade barriers between trading partners was known as __________ .

Globalization of labor is a very controversial issue. Why do so many people fear it? What do the studies indicate? MNCs are an integral component of this issue? What are the pros and cons of MNCs? Make sure you discuss issues such as child labor, immigration, slave labor, and unions.

Give examples of protectionism during the current world financial crisis.

During a meeting of the World Trade Organization, anti-WTO activists descended upon the trade talks in Seattle, WA. Why were the protestors there? What were their complaints? Were they justified? Write an in which you decide whether the World Trade Organization is a friend or foe.

Economic sanctions have the greatest impact on autocratic regimes.

As the WTO has been largely successful in reducing tariffs, it has begun to confront all but which of the following issues?

Which of the following statements is false regarding the globalization of labor?

Intra-firm trade is cross-national trade of international goods and services within the same firm.

The principle of comparative advantage maintains that

The United States ended its steel tariffs in response to a WTO ruling because it feared retaliatory tariffs from the EU.

List at least two regional trade agreements.

America's trade competitors have long noted and complained that the United States has increasingly engaged in _____________.

What is the difference between absolute advantage and comparative advantage?

____________________ is a principle for trade that proclaims that goods produced at home and abroad are to be treated the same for import and export agreements.

The GATT principle of nondiscrimination that called for all foreign goods to be treated equally with domestic goods, and that countries are not able to enact policies, such as taxes, to give their products an advantage over foreign products is called _______.

Liberals emphasize the mutual gains (absolute gains) of global trade whereas mercantilists are more concerned with relative gains.

Voluntary export restrictions are agreements in which exporting countries agree to restrict shipments of a particular product to a country to deter it from imposing an even more onerous import quota.

Exploring World Politics

Theories of World Politics

Theories of International Decision Making

Rivalries and Relations Among the Great Powers

The Global South in a World of Powers

Nonstate Actors and the Quest for Global

The Threat of Armed Conflict to the World

The Pursuit of Power Through Arms and Alliances

The Quest for Peace Through International Law and Collective Security

The Globalization of International Finance

The Demographic and Cultural Dimensions of Globalization

The Promotion of Human Development and Human Rights

Global Responsibility for the Preservation of the Environment

Looking Ahead at Global Trends

Filters

Exam 11: International Trade in the Global Marketplace

List ways in which the United States simultaneously pursues liberal trade while engaging in certain protective trade policies.

The production of goods is usually dispersed throughout several different countries.

What must a hegemon do to maintain the international political economy?

The GATT principle that called for mutual lowering of trade barriers between trading partners was known as __________ .

Globalization of labor is a very controversial issue. Why do so many people fear it? What do the studies indicate? MNCs are an integral component of this issue? What are the pros and cons of MNCs? Make sure you discuss issues such as child labor, immigration, slave labor, and unions.

Give examples of protectionism during the current world financial crisis.

During a meeting of the World Trade Organization, anti-WTO activists descended upon the trade talks in Seattle, WA. Why were the protestors there? What were their complaints? Were they justified? Write an in which you decide whether the World Trade Organization is a friend or foe.

Economic sanctions have the greatest impact on autocratic regimes.

As the WTO has been largely successful in reducing tariffs, it has begun to confront all but which of the following issues?

Which of the following statements is false regarding the globalization of labor?

Intra-firm trade is cross-national trade of international goods and services within the same firm.

The principle of comparative advantage maintains that

The United States ended its steel tariffs in response to a WTO ruling because it feared retaliatory tariffs from the EU.

List at least two regional trade agreements.

America's trade competitors have long noted and complained that the United States has increasingly engaged in _____________.

What is the difference between absolute advantage and comparative advantage?

____________________ is a principle for trade that proclaims that goods produced at home and abroad are to be treated the same for import and export agreements.

The GATT principle of nondiscrimination that called for all foreign goods to be treated equally with domestic goods, and that countries are not able to enact policies, such as taxes, to give their products an advantage over foreign products is called _______.

Liberals emphasize the mutual gains (absolute gains) of global trade whereas mercantilists are more concerned with relative gains.

Voluntary export restrictions are agreements in which exporting countries agree to restrict shipments of a particular product to a country to deter it from imposing an even more onerous import quota.

Exploring World Politics

Theories of World Politics

Theories of International Decision Making

Rivalries and Relations Among the Great Powers

The Global South in a World of Powers

Nonstate Actors and the Quest for Global

The Threat of Armed Conflict to the World

The Pursuit of Power Through Arms and Alliances

The Quest for Peace Through International Law and Collective Security

The Globalization of International Finance

The Demographic and Cultural Dimensions of Globalization

The Promotion of Human Development and Human Rights

Global Responsibility for the Preservation of the Environment

Looking Ahead at Global Trends

Filters