Question 1

What is the result of protection for U.S. sugar farmers?

Accepted Answer

A) It saves an estimated 3,600 jobs at about $600,000 per job year. 
B) It triples the price of U.S. sugar. 
C) It gives the U.S. a comparative advantage in sugar. 
D) It saves an estimated 120,000 jobs at a cost of only about $20,000 per job year. 
A) It saves an estimated 3,600 jobs at about $600,000 per job year. 
B) It triples the price of U.S. sugar. 
C) It gives the U.S. a comparative advantage in sugar. 
D) It saves an estimated 120,000 jobs at a cost of only about $20,000 per job year.

Question 2

What are voluntary export restraints (VERs)?

Accepted Answer

A) Limits on the number of an item that can be imported 
B) Regulations adopted when one country threatens restrictions on trade and an exporting country agrees to limit exports to avoid the imposition of more stringent limits 
C) Restrictions that items to be sold as a domestic product must have a certain percentage of its final product components assembled domestically 
D) Quotas that are agreed upon and sanctioned by the WTO 
A) Limits on the number of an item that can be imported 
B) Regulations adopted when one country threatens restrictions on trade and an exporting country agrees to limit exports to avoid the imposition of more stringent limits 
C) Restrictions that items to be sold as a domestic product must have a certain percentage of its final product components assembled domestically 
D) Quotas that are agreed upon and sanctioned by the WTO

Question 3

As of 2019, the WTO had approximately how many members?

Accepted Answer

A) 192 
B) 164 
C) 115 
D) 77 
A) 192 
B) 164 
C) 115 
D) 77

Question 4

How did the General Agreement on Tariffs and Trade (GATT)function and in what way was it successful? Why was it replaced by the World Trade Organization?

Accepted Answer

The General Agreement on Tariffs and Tra

Question 5

Which of the following factors caused the dollar to be undermined as the main currency in international commerce?

Accepted Answer

A) China allowing its currency, the yuan, to become freely convertible 
B) Concerns over U.S. government debts 
C) Concerns of U.S. government budget surpluses 
D) The "Race to the Bottom" 
A) China allowing its currency, the yuan, to become freely convertible 
B) Concerns over U.S. government debts 
C) Concerns of U.S. government budget surpluses 
D) The "Race to the Bottom"

Question 6

What is the main difference for members of the World Trade Organization (WTO)who also are members of a free trade area (FTA)?

Accepted Answer

A) WTO members are provided lower tariffs than members of the FTA 
B) There are no nontariff barriers for WTO members, but there may be some for FTA members 
C) Within a free trade area, there are no tariffs at all, but there are some tariffs for WTO members 
D) Barriers may be low for FTA members, but they are even lower for WTO members 
A) WTO members are provided lower tariffs than members of the FTA 
B) There are no nontariff barriers for WTO members, but there may be some for FTA members 
C) Within a free trade area, there are no tariffs at all, but there are some tariffs for WTO members 
D) Barriers may be low for FTA members, but they are even lower for WTO members

Question 7

The fundamental linkage between debt crises and monetary crises that can shift a manageable downturn into an unmanageable panic is referred to as which of the following?

Accepted Answer

A) A lender of last resort scenario 
B) A crisis of confidence 
C) Monetary stagnation 
D) Currency devaluation 
A) A lender of last resort scenario 
B) A crisis of confidence 
C) Monetary stagnation 
D) Currency devaluation

Question 8

Discuss the key aspects of globalization. How important is each as a means to explain globalization? In what practical ways has globalization impacted your daily life?

Accepted Answer

Globalization is a complex and multiface

Question 9

Which of the following can be said of labor and industries that rely on abundant labor in areas of the Third World where labor is plentiful?

Accepted Answer

A) They support free trade. 
B) They oppose free trade. 
C) They do not have an opinion regarding free trade. 
D) They support free trade with limited protectionist measures. 
A) They support free trade. 
B) They oppose free trade. 
C) They do not have an opinion regarding free trade. 
D) They support free trade with limited protectionist measures.

Question 10

Which goal was sacrificed by the international monetary system that followed the collapse of the Bretton Woods agreement?

Accepted Answer

A) Domestic autonomy 
B) Exchange rate stability 
C) Capital mobility 
D) It pursued all of the goals simultaneously, meaning that none was fully achieved. 
A) Domestic autonomy 
B) Exchange rate stability 
C) Capital mobility 
D) It pursued all of the goals simultaneously, meaning that none was fully achieved.

Question 11

To explain the growth in free trade after World War II, some say that barriers to increased free trade can only be overcome when a single state is powerful enough to persuade other states to go along. What is this theory called?

Accepted Answer

A) Reciprocity theory 
B) Regionalization theory 
C) Power transition theory 
D) Hegemonic stability theory 
A) Reciprocity theory 
B) Regionalization theory 
C) Power transition theory 
D) Hegemonic stability theory

Question 12

Which goal was sacrificed during the Bretton Woods system?

Accepted Answer

A) Capital mobility 
B) Exchange rate stability 
C) Domestic autonomy 
D) Exchange rate flexibility 
A) Capital mobility 
B) Exchange rate stability 
C) Domestic autonomy 
D) Exchange rate flexibility

Question 13

What does the dollar overhang concept refer to?

Accepted Answer

A) The situation when the number of dollars held in foreign hands grew much faster than the supply of gold backing them 
B) The situation when the U.S. government controlled most of the dollars in circulation 
C) The situation when a large amount of dollars was being held by the International Monetary Fund 
D) The situation when countries were redeeming the dollar for gold at the set price of $35 per ounce 
A) The situation when the number of dollars held in foreign hands grew much faster than the supply of gold backing them 
B) The situation when the U.S. government controlled most of the dollars in circulation 
C) The situation when a large amount of dollars was being held by the International Monetary Fund 
D) The situation when countries were redeeming the dollar for gold at the set price of $35 per ounce

Question 14

When examining global economic power, what is clear?

Accepted Answer

A) That such power now is more evenly distributed than in the past 
B) That such power now is increasingly concentrated in the hands of the United States 
C) That such power now is controlled by a coalition of rich countries including the European Union, Japan, and the United States 
D) That such power now is increasingly controlled by the major developing countries, including Brazil, Russia, China, and India 
A) That such power now is more evenly distributed than in the past 
B) That such power now is increasingly concentrated in the hands of the United States 
C) That such power now is controlled by a coalition of rich countries including the European Union, Japan, and the United States 
D) That such power now is increasingly controlled by the major developing countries, including Brazil, Russia, China, and India

Question 15

What percentage of American university students studied abroad during 2009-2010?

Accepted Answer

A) 35 percent 
B) 20 percent 
C) 10 percent 
D) 1 percent 
A) 35 percent 
B) 20 percent 
C) 10 percent 
D) 1 percent

Question 16

When called in to help with a monetary crisis, the IMF puts the responsibility usually on which of the following?

Accepted Answer

A) The lender country 
B) The borrowing country 
C) Multinational corporations 
D) The U.S. government 
A) The lender country 
B) The borrowing country 
C) Multinational corporations 
D) The U.S. government

Question 17

States traditionally seek to achieve three goals concerning international monetary policy. Which of the following is not one of those goals?

Accepted Answer

A) Predictability of exchange rates 
B) Free flow of capital 
C) Regulation of monetary policy through international organizations 
D) Autonomous domestic monetary policy 
A) Predictability of exchange rates 
B) Free flow of capital 
C) Regulation of monetary policy through international organizations 
D) Autonomous domestic monetary policy

Question 18

Investment by purchasing stocks rather than physical assets is known as which of the following?

Accepted Answer

A) Direct foreign investment 
B) Global capital mobility 
C) International market acquisition 
D) Cross-border portfolio investment 
A) Direct foreign investment 
B) Global capital mobility 
C) International market acquisition 
D) Cross-border portfolio investment

Question 19

By the 1960s, those countries holding dollars were subsidizing the U.S. economy. What was unique about this situation?

Accepted Answer

A) U.S. budget deficits were decreasing at the time. 
B) As the "dollar overhang" grew, foreign investors and governments were willing to purchase dollars at a discount. 
C) The U.S. was able to pay $35 per ounce for gold despite its large "dollar overhang". 
D) The costs of adjustment were not being forced onto the deficit country. 
A) U.S. budget deficits were decreasing at the time. 
B) As the "dollar overhang" grew, foreign investors and governments were willing to purchase dollars at a discount. 
C) The U.S. was able to pay $35 per ounce for gold despite its large "dollar overhang". 
D) The costs of adjustment were not being forced onto the deficit country.

Question 20

In recent years, which currency has emerged as a highly stable alternative to the U.S. dollar, to which many governments have already shifted in regard to reserve currency?

Accepted Answer

A) The Chinese yuan 
B) The Australian dollar 
C) The euro 
D) The Japanese yen 
A) The Chinese yuan 
B) The Australian dollar 
C) The euro 
D) The Japanese yen

What is the result of protection for U.S. sugar farmers?

What are voluntary export restraints (VERs)?

As of 2019, the WTO had approximately how many members?

How did the General Agreement on Tariffs and Trade (GATT)function and in what way was it successful? Why was it replaced by the World Trade Organization?

Which of the following factors caused the dollar to be undermined as the main currency in international commerce?

What is the main difference for members of the World Trade Organization (WTO)who also are members of a free trade area (FTA)?

The fundamental linkage between debt crises and monetary crises that can shift a manageable downturn into an unmanageable panic is referred to as which of the following?

Discuss the key aspects of globalization. How important is each as a means to explain globalization? In what practical ways has globalization impacted your daily life?

Which of the following can be said of labor and industries that rely on abundant labor in areas of the Third World where labor is plentiful?

Which goal was sacrificed by the international monetary system that followed the collapse of the Bretton Woods agreement?

To explain the growth in free trade after World War II, some say that barriers to increased free trade can only be overcome when a single state is powerful enough to persuade other states to go along. What is this theory called?

Which goal was sacrificed during the Bretton Woods system?

What does the dollar overhang concept refer to?

When examining global economic power, what is clear?

What percentage of American university students studied abroad during 2009-2010?

When called in to help with a monetary crisis, the IMF puts the responsibility usually on which of the following?

States traditionally seek to achieve three goals concerning international monetary policy. Which of the following is not one of those goals?

Investment by purchasing stocks rather than physical assets is known as which of the following?

By the 1960s, those countries holding dollars were subsidizing the U.S. economy. What was unique about this situation?

In recent years, which currency has emerged as a highly stable alternative to the U.S. dollar, to which many governments have already shifted in regard to reserve currency?

Introduction: Problems and Questions in International Politics

The Historical Evolution of International Politics

Theories of International Relations: Realism and Liberalism

Theories of International Relations: Economic Structuralism, Constructivism, and Feminism

The State, Society, and Foreign Policy

Bureaucracies, Groups, and Individuals in the Foreign Policy Process

International Organizations and Transnational Actors

International Insecurity and the Causes of War and Peace

The Use of Force

Fundamentals of International Political Economy

The Problem of Global Inequality

International Law, Norms, and Human Rights

The Global Environment and International Politics

Conclusion: Power and Purpose in a Changing World

Filters

Exam 11: The Globalization of Trade and Finance

What is the result of protection for U.S. sugar farmers?

What are voluntary export restraints (VERs)?

As of 2019, the WTO had approximately how many members?

How did the General Agreement on Tariffs and Trade (GATT)function and in what way was it successful? Why was it replaced by the World Trade Organization?

Which of the following factors caused the dollar to be undermined as the main currency in international commerce?

What is the main difference for members of the World Trade Organization (WTO)who also are members of a free trade area (FTA)?

The fundamental linkage between debt crises and monetary crises that can shift a manageable downturn into an unmanageable panic is referred to as which of the following?

Discuss the key aspects of globalization. How important is each as a means to explain globalization? In what practical ways has globalization impacted your daily life?

Which of the following can be said of labor and industries that rely on abundant labor in areas of the Third World where labor is plentiful?

Which goal was sacrificed by the international monetary system that followed the collapse of the Bretton Woods agreement?

To explain the growth in free trade after World War II, some say that barriers to increased free trade can only be overcome when a single state is powerful enough to persuade other states to go along. What is this theory called?

Which goal was sacrificed during the Bretton Woods system?

What does the dollar overhang concept refer to?

When examining global economic power, what is clear?

What percentage of American university students studied abroad during 2009-2010?

When called in to help with a monetary crisis, the IMF puts the responsibility usually on which of the following?

States traditionally seek to achieve three goals concerning international monetary policy. Which of the following is not one of those goals?

Investment by purchasing stocks rather than physical assets is known as which of the following?

By the 1960s, those countries holding dollars were subsidizing the U.S. economy. What was unique about this situation?

In recent years, which currency has emerged as a highly stable alternative to the U.S. dollar, to which many governments have already shifted in regard to reserve currency?

Introduction: Problems and Questions in International Politics

The Historical Evolution of International Politics

Theories of International Relations: Realism and Liberalism

Theories of International Relations: Economic Structuralism, Constructivism, and Feminism

The State, Society, and Foreign Policy

Bureaucracies, Groups, and Individuals in the Foreign Policy Process

International Organizations and Transnational Actors

International Insecurity and the Causes of War and Peace

The Use of Force

Fundamentals of International Political Economy

The Problem of Global Inequality

International Law, Norms, and Human Rights

The Global Environment and International Politics

Conclusion: Power and Purpose in a Changing World

Filters