Question 1

The percentage of world GDP represented by the G7 is ________ and the percentage of world GDP represented by the BRIC economies is ________.

Accepted Answer

A) falling,rising 
B) falling,falling 
C) rising,falling 
D) rising,rising 
A) falling,rising 
B) falling,falling 
C) rising,falling 
D) rising,rising

Question 2

Which of the following is FALSE? All the BRICs

Accepted Answer

A) rank among the world's top 10 in population. 
B) have been transformed by reforms. 
C) have become more isolated and focused on domestic issues. 
D) are among the world's top 11 economies. 
E) have yet to fully realize their economic potential. 
A) rank among the world's top 10 in population. 
B) have been transformed by reforms. 
C) have become more isolated and focused on domestic issues. 
D) are among the world's top 11 economies. 
E) have yet to fully realize their economic potential.

Question 3

Which of the following is not a potential source of comparative advantage for China in the manufacturing sector?

Accepted Answer

A) Abundant low wage,low skill workers 
B) A large domestic market that can lead to scale economies 
C) Coastal areas with good logistics for international trade 
D) Abundant credit from China's government sector to set up manufacturing operations 
A) Abundant low wage,low skill workers 
B) A large domestic market that can lead to scale economies 
C) Coastal areas with good logistics for international trade 
D) Abundant credit from China's government sector to set up manufacturing operations

Question 4

Which of the following would NOT be a sign that China wants to become a high technology producer?

Accepted Answer

A) More patents are being sought and granted in China 
B) Large spending on infrastructure 
C) Rapid expansion of science,engineering and research 
D) Less emphasis on education spending 
A) More patents are being sought and granted in China 
B) Large spending on infrastructure 
C) Rapid expansion of science,engineering and research 
D) Less emphasis on education spending

Question 5

Trade in services such as information technology

Accepted Answer

A) is like other trade,it creates winners and losers,but the gains for national economies likely outweigh the costs. 
B) creates gains for India's economy,but national welfare losses for the countries that import these services. 
C) make it highly likely that information technology jobs will ultimately disappear in the industrialized countries. 
D) is not perceived as threatening by industrialized countries so is unlikely to lead to any protectionist sentiment or pressures in the way the manufacturing does. 
A) is like other trade,it creates winners and losers,but the gains for national economies likely outweigh the costs. 
B) creates gains for India's economy,but national welfare losses for the countries that import these services. 
C) make it highly likely that information technology jobs will ultimately disappear in the industrialized countries. 
D) is not perceived as threatening by industrialized countries so is unlikely to lead to any protectionist sentiment or pressures in the way the manufacturing does.

Question 6

Brazil and Russia both depend on capital equipment as their primary exports.

Accepted Answer

A) True 
 B)False

Question 7

What is the best explanation for why China and India have received so much international interest and foreign investment?

Accepted Answer

A) Their large populations 
B) Their geographic location 
C) Their control over natural resources 
D) Government incentives provided to foreign firms 
A) Their large populations 
B) Their geographic location 
C) Their control over natural resources 
D) Government incentives provided to foreign firms

Question 8

What is the pattern of exports and imports in China and India?

Accepted Answer

A) Exports are heavily subsidized through government policy. 
B) Many barriers to imports exist. 
C) Exports and imports are tied together,with exports depending on imported inputs and technology. 
D) Imports are not important to either nation's economy. 
A) Exports are heavily subsidized through government policy. 
B) Many barriers to imports exist. 
C) Exports and imports are tied together,with exports depending on imported inputs and technology. 
D) Imports are not important to either nation's economy.

The percentage of world GDP represented by the G7 is and the percentage of world GDP represented by the BRIC economies is .

Which of the following is FALSE? All the BRICs

Which of the following is not a potential source of comparative advantage for China in the manufacturing sector?

Which of the following would NOT be a sign that China wants to become a high technology producer?

Trade in services such as information technology

Brazil and Russia both depend on capital equipment as their primary exports.

What is the best explanation for why China and India have received so much international interest and foreign investment?

What is the pattern of exports and imports in China and India?

The United States in a Global Economy

International Economic Institutions Since World War Ii

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

Filters

Exam 17: The Bric Countries in the World Economy

The percentage of world GDP represented by the G7 is ________ and the percentage of world GDP represented by the BRIC economies is ________.

Which of the following is FALSE? All the BRICs

Which of the following is not a potential source of comparative advantage for China in the manufacturing sector?

Which of the following would NOT be a sign that China wants to become a high technology producer?

Trade in services such as information technology

Brazil and Russia both depend on capital equipment as their primary exports.

What is the best explanation for why China and India have received so much international interest and foreign investment?

What is the pattern of exports and imports in China and India?

The United States in a Global Economy

International Economic Institutions Since World War Ii

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

Filters

The percentage of world GDP represented by the G7 is and the percentage of world GDP represented by the BRIC economies is .