Question 1

In a typical structure of protection in developed countries, raw commodities frequently have a ___ tariff.

Accepted Answer

A)  low 
B)  high 
C)  average 
D)  specific 
E)  ad valorem 
A)  low 
B)  high 
C)  average 
D)  specific 
E)  ad valorem A

Question 2

In Latin America, commodity exports are _____ percent of total exports.

Accepted Answer

A)  17 
B)  20 
C)  33 
D)  42 
E)  61 
A)  17 
B)  20 
C)  33 
D)  42 
E)  61 E

Question 3

Commodities are known to have _____ supply, and ______ demand.

Accepted Answer

A)  Elastic, elastic 
B)  Elastic, inelastic 
C)  Inelastic, elastic 
D)  Inelastic, inelastic 
E)  unitary, zero 
A)  Elastic, elastic 
B)  Elastic, inelastic 
C)  Inelastic, elastic 
D)  Inelastic, inelastic 
E)  unitary, zero D

Question 4

Which Latin American nation has the largest commodity exports/GDP ratio?

Accepted Answer

A)  Argentina 
B)  Bolivia 
C)  Chile 
D)  Peru 
E)  Ecuador 
A)  Argentina 
B)  Bolivia 
C)  Chile 
D)  Peru 
E)  Ecuador

Question 5

In the 19th century, which commodity was exported by Peru, Bolivia, and Chile?

Accepted Answer

A)  gold 
B)  coffee 
C)  rubber 
D)  guano 
E)  oil 
A)  gold 
B)  coffee 
C)  rubber 
D)  guano 
E)  oil

Question 6

The empirical regularity that countries rich in commodities frequently experience low economic growth is known as:

Accepted Answer

A)  resource curse 
B)  industrial structure 
C)  structure of protection 
D)  Dutch disease 
E)  national treatment 
A)  resource curse 
B)  industrial structure 
C)  structure of protection 
D)  Dutch disease 
E)  national treatment

Question 7

Assume that Brazil is a major supplier of coffee in world markets. If a disease wiped out Brazilian production for five years, show what would happen to the world price of coffee.

Accepted Answer

If a disease were to wipe out Brazilian

Question 8

The ____ of commodity prices makes the management of GDP in Latin America _____.

Accepted Answer

A)  Stability, simple 
B)  Instability, simple 
C)  Stability, difficult 
D)  Instability, difficult 
E)  These two factors are not related. 
A)  Stability, simple 
B)  Instability, simple 
C)  Stability, difficult 
D)  Instability, difficult 
E)  These two factors are not related.

Question 9

In the twentieth century, Latin American governments' taxation and regulation of MNCs has:

Accepted Answer

A)  decreased 
B)  increased 
C)  remained constant 
D)  been confined to the apparel industry. 
E)  none of the above 
A)  decreased 
B)  increased 
C)  remained constant 
D)  been confined to the apparel industry. 
E)  none of the above

Question 10

Explain how Dutch disease has hindered the development of manufacturing in Latin America.

Accepted Answer

Dutch disease has hindered the developme

Question 11

Explain how the resource curse works to retard economic development in many countries that are commodity producers.

Accepted Answer

The resource curse refers to the phenome

Question 12

Which of the following was a popular red dye extensively used from the 16th through the 19th centuries?

Accepted Answer

A)  indigo 
B)  henequen 
C)  guano 
D)  cochineal 
E)  none of the above 
A)  indigo 
B)  henequen 
C)  guano 
D)  cochineal 
E)  none of the above

Question 13

Which is not a reason an abundance of natural resources can accelerate economic growth within a country?

Accepted Answer

A)  Commodities can be a source of government revenue. 
B)  Commodities can force a country to have well developed infrastructure. 
C)  A country with commodities may find it easier to transition into manufacturing than one without such resources... 
D)  An abundance of natural resources tends to create high level human capital. 
E)  none of the above 
A)  Commodities can be a source of government revenue. 
B)  Commodities can force a country to have well developed infrastructure. 
C)  A country with commodities may find it easier to transition into manufacturing than one without such resources... 
D)  An abundance of natural resources tends to create high level human capital. 
E)  none of the above

Question 14

The tactic known as structure of protection is mainly implemented by _____ countries as a means of protecting their _____.

Accepted Answer

A)  developing, commodities industries 
B)  developing, manufacturing industries 
C)  developed, commodities industries 
D)  developed, manufacturing industries 
E)  none of the above 
A)  developing, commodities industries 
B)  developing, manufacturing industries 
C)  developed, commodities industries 
D)  developed, manufacturing industries 
E)  none of the above

Question 15

The tendency for commodity prices to increase and decrease over a number of years is known as:

Accepted Answer

A)  Dutch disease 
B)  the resource curse 
C)  the commodity curse 
D)  inelasticity 
E)  the commodity supercycle 
A)  Dutch disease 
B)  the resource curse 
C)  the commodity curse 
D)  inelasticity 
E)  the commodity supercycle

Question 16

Explain what the lithium triangle is.

Accepted Answer

The "Lithium Triangle" refers to a regio

Question 17

Due to the nature of the supply and demand of commodities, an increase in demand will result in a:

Accepted Answer

A)  Small increase in quantity, large increase in price. 
B)  Small increase in quantity, small increase in price. 
C)  Large increase in quantity, small increase in price. 
D)  Large increase in quantity, large increase in price. 
E)  No change in quantity, huge change in price. 
A)  Small increase in quantity, large increase in price. 
B)  Small increase in quantity, small increase in price. 
C)  Large increase in quantity, small increase in price. 
D)  Large increase in quantity, large increase in price. 
E)  No change in quantity, huge change in price.

Question 18

While China's economic boom may have had a positive effect on the commodities market of Latin American, it may have caused what to occur in Latin America?

Accepted Answer

A)  decreased FDI 
B)  lessened the growth in labor intensive manufactured goods markets 
C)  the Dutch disease 
D)  decreased GDP per capita 
E)  the resource curse 
A)  decreased FDI 
B)  lessened the growth in labor intensive manufactured goods markets 
C)  the Dutch disease 
D)  decreased GDP per capita 
E)  the resource curse

Question 19

Why hasn't the production and export of commodities made Latin America rich?

Accepted Answer

The production and export of commodities

Question 20

Part of the growth problem in Latin America is a result of problems with infrastructure and education. How is this related to primary commodities?

Accepted Answer

The relationship between problems with i

In a typical structure of protection in developed countries, raw commodities frequently have a ___ tariff.

In Latin America, commodity exports are _____ percent of total exports.

Commodities are known to have _ supply, and __ demand.

Which Latin American nation has the largest commodity exports/GDP ratio?

In the 19^th century, which commodity was exported by Peru, Bolivia, and Chile?

The empirical regularity that countries rich in commodities frequently experience low economic growth is known as:

Assume that Brazil is a major supplier of coffee in world markets. If a disease wiped out Brazilian production for five years, show what would happen to the world price of coffee.

The of commodity prices makes the management of GDP in Latin America _.

In the twentieth century, Latin American governments' taxation and regulation of MNCs has:

Explain how Dutch disease has hindered the development of manufacturing in Latin America.

Explain how the resource curse works to retard economic development in many countries that are commodity producers.

Which of the following was a popular red dye extensively used from the 16^th through the 19^th centuries?

Which is not a reason an abundance of natural resources can accelerate economic growth within a country?

The tactic known as structure of protection is mainly implemented by _ countries as a means of protecting their _.

The tendency for commodity prices to increase and decrease over a number of years is known as:

Explain what the lithium triangle is.

Due to the nature of the supply and demand of commodities, an increase in demand will result in a:

While China's economic boom may have had a positive effect on the commodities market of Latin American, it may have caused what to occur in Latin America?

Why hasn't the production and export of commodities made Latin America rich?

Part of the growth problem in Latin America is a result of problems with infrastructure and education. How is this related to primary commodities?

Latin American Economic History

Economic Growth and Latin America

Limits to Growth in Latin America

Growth and the Environment in Latin America

Import Substitution in Latin America

Latin American Trade Policy

Exchange-Rate Policy

Financing Current-Account Deficits

Macroeconomic Policy in Latin America

Macroeconomic Stability

Poverty Inequality

Economic Policy Debates in Latin America

Filters

Exam 5: Latin American and Primary Commodities

In a typical structure of protection in developed countries, raw commodities frequently have a ___ tariff.

In Latin America, commodity exports are _____ percent of total exports.

Commodities are known to have _____ supply, and ______ demand.

Which Latin American nation has the largest commodity exports/GDP ratio?

In the 19th century, which commodity was exported by Peru, Bolivia, and Chile?

The empirical regularity that countries rich in commodities frequently experience low economic growth is known as:

Assume that Brazil is a major supplier of coffee in world markets. If a disease wiped out Brazilian production for five years, show what would happen to the world price of coffee.

The ____ of commodity prices makes the management of GDP in Latin America _____.

In the twentieth century, Latin American governments' taxation and regulation of MNCs has:

Explain how Dutch disease has hindered the development of manufacturing in Latin America.

Explain how the resource curse works to retard economic development in many countries that are commodity producers.

Which of the following was a popular red dye extensively used from the 16th through the 19th centuries?

Which is not a reason an abundance of natural resources can accelerate economic growth within a country?

The tactic known as structure of protection is mainly implemented by _____ countries as a means of protecting their _____.

The tendency for commodity prices to increase and decrease over a number of years is known as:

Explain what the lithium triangle is.

Due to the nature of the supply and demand of commodities, an increase in demand will result in a:

While China's economic boom may have had a positive effect on the commodities market of Latin American, it may have caused what to occur in Latin America?

Why hasn't the production and export of commodities made Latin America rich?

Part of the growth problem in Latin America is a result of problems with infrastructure and education. How is this related to primary commodities?

Latin American Economic History

Economic Growth and Latin America

Limits to Growth in Latin America

Growth and the Environment in Latin America

Import Substitution in Latin America

Latin American Trade Policy

Exchange-Rate Policy

Financing Current-Account Deficits

Macroeconomic Policy in Latin America

Macroeconomic Stability

Poverty Inequality

Economic Policy Debates in Latin America

Filters

Commodities are known to have _ supply, and __ demand.

In the 19^th century, which commodity was exported by Peru, Bolivia, and Chile?

The of commodity prices makes the management of GDP in Latin America _.

Which of the following was a popular red dye extensively used from the 16^th through the 19^th centuries?

The tactic known as structure of protection is mainly implemented by _ countries as a means of protecting their _.