Question 1

Which statement best describes the position of the United States toward free trade?

Accepted Answer

A) The United States has always promoted free trade. 
B) The United States has always been a highly protectionist country. 
C) The United States was initially in favor of free trade but then became more protectionist,and is currently highly protectionist. 
D) The United States was initially in favor of free trade,became protectionist but currently promotes free trade. 
E) The United States was initially strongly protectionist but has since favored free trade. 
A) The United States has always promoted free trade. 
B) The United States has always been a highly protectionist country. 
C) The United States was initially in favor of free trade but then became more protectionist,and is currently highly protectionist. 
D) The United States was initially in favor of free trade,became protectionist but currently promotes free trade. 
E) The United States was initially strongly protectionist but has since favored free trade. E

Question 2

Which of the following is NOT a trade barrier?

Accepted Answer

A) Subsidies. 
B) Tariffs. 
C) Quantitative restrictions. 
D) Import licenses. 
E) Nontariff barriers. 
A) Subsidies. 
B) Tariffs. 
C) Quantitative restrictions. 
D) Import licenses. 
E) Nontariff barriers. A

Question 3

Which of the following is most likely to help countries overcome trade problems with each other?

Accepted Answer

A) When a large number of countries participate in trade negotiations so they can gain broader consensus. 
B) When countries have limited interactions over time and therefore little chance for disputes. 
C) When countries are able to restrict the information that other countries have about their products. 
D) When the countries have concluded a limited war fought with each other to resolve a dispute over trade routes. 
E) When countries can negotiate concessions in different industries to achieve an agreement. 
A) When a large number of countries participate in trade negotiations so they can gain broader consensus. 
B) When countries have limited interactions over time and therefore little chance for disputes. 
C) When countries are able to restrict the information that other countries have about their products. 
D) When the countries have concluded a limited war fought with each other to resolve a dispute over trade routes. 
E) When countries can negotiate concessions in different industries to achieve an agreement. E

Question 4

The table is an example of:

Accepted Answer

A) negative externality. 
B) comparative advantage. 
C) trade bargaining. 
D) the Prisoner's Dilemma. 
E) Stag Hunt. 
A) negative externality. 
B) comparative advantage. 
C) trade bargaining. 
D) the Prisoner's Dilemma. 
E) Stag Hunt.

Question 5

Antiglobalization critics criticize the WTO because they think it:

Accepted Answer

A) favors domestic workers over other actors. 
B) disregards environmental and safety issues. 
C) is overly concerned about workers' health and safety. 
D) is not doing enough to reduce government subsidies for domestic producers in developing countries. 
E) has too little authority in regulating international trade. 
A) favors domestic workers over other actors. 
B) disregards environmental and safety issues. 
C) is overly concerned about workers' health and safety. 
D) is not doing enough to reduce government subsidies for domestic producers in developing countries. 
E) has too little authority in regulating international trade.

Question 6

What is the theory of hegemonic stability?

Accepted Answer

A) The hegemonic spread of the belief in the benefits of free trade will lead to a liberal world trading system. 
B) The spread of free trade throughout the world will lead to a stable single trading system. 
C) The longer countries keep their free-trade policies,the more likely they are to remain pro-free trade. 
D) Having one single hegemonic source of information can improve the chances of stability in international trade. 
E) One large state that is willing and powerful enough can solve the collective action problems of international trade. 
A) The hegemonic spread of the belief in the benefits of free trade will lead to a liberal world trading system. 
B) The spread of free trade throughout the world will lead to a stable single trading system. 
C) The longer countries keep their free-trade policies,the more likely they are to remain pro-free trade. 
D) Having one single hegemonic source of information can improve the chances of stability in international trade. 
E) One large state that is willing and powerful enough can solve the collective action problems of international trade.

Question 7

In the figure,at what level will domestic firms produce under liberalization?

Accepted Answer

A) Qs. 
B) Qd. 
C) A. 
D) B. 
E) P. 
A) Qs. 
B) Qd. 
C) A. 
D) B. 
E) P.

Question 8

What factors make it more likely that countries will have trade agreements? How do strategic interactions make it more or less likely that a country will erect a trade barrier?

Accepted Answer

There are several factors that make it m

Question 9

Which of the following statements about trade policy is true?

Accepted Answer

A) No country in the world currently maintains trade barriers. 
B) Few countries in the world maintain trade barriers. 
C) A bare majority of countries in the world maintain some trade barriers. 
D) A large majority of countries in the world maintain some trade barriers. 
E) Every country in the world maintains some trade barriers. 
A) No country in the world currently maintains trade barriers. 
B) Few countries in the world maintain trade barriers. 
C) A bare majority of countries in the world maintain some trade barriers. 
D) A large majority of countries in the world maintain some trade barriers. 
E) Every country in the world maintains some trade barriers.

Question 10

Which of the following is most likely to benefit from protectionism?

Accepted Answer

A) Consumers of all goods,because they are protected from inferior products. 
B) Consumers of imported products. 
C) Domestic producers of goods that are also imported from foreign countries. 
D) Domestic producers of goods that are exported to other countries. 
E) Foreign producers of goods that are exported to other countries. 
A) Consumers of all goods,because they are protected from inferior products. 
B) Consumers of imported products. 
C) Domestic producers of goods that are also imported from foreign countries. 
D) Domestic producers of goods that are exported to other countries. 
E) Foreign producers of goods that are exported to other countries.

Question 11

Which of the following would be a movement toward the Pareto frontier with regard to the benefits of trade?

Accepted Answer

A) Steel workers losing their jobs because of steel imports get free training,paid for by the government,so they can get jobs in another industry. 
B) Agricultural workers facing wage decreases because of imported food successfully lobby the government to institute tariffs. 
C) Workers in a clothing factory in Mexico being laid off go to the United States to find work. 
D) South Korean semiconductor manufacturers sell their products at a lower-than-market price in Japan. 
E) The wages of Bangladeshi shoe makers rise when the United States imposes tariffs on shoe imports. 
A) Steel workers losing their jobs because of steel imports get free training,paid for by the government,so they can get jobs in another industry. 
B) Agricultural workers facing wage decreases because of imported food successfully lobby the government to institute tariffs. 
C) Workers in a clothing factory in Mexico being laid off go to the United States to find work. 
D) South Korean semiconductor manufacturers sell their products at a lower-than-market price in Japan. 
E) The wages of Bangladeshi shoe makers rise when the United States imposes tariffs on shoe imports.

Question 12

Which is true of Portugal in the table?

Accepted Answer

A) Portugal has an absolute advantage over England in both cloth and wine. 
B) England's opportunity cost for producing wine is lower than Portugal's. 
C) Portugal can produce more wine than England. 
D) Neither country has a comparative advantage in the production of cloth. 
E) Neither country has a comparative advantage in the production of wine. 
A) Portugal has an absolute advantage over England in both cloth and wine. 
B) England's opportunity cost for producing wine is lower than Portugal's. 
C) Portugal can produce more wine than England. 
D) Neither country has a comparative advantage in the production of cloth. 
E) Neither country has a comparative advantage in the production of wine.

Question 13

Which of the following is explained well by the specific-factor approach (Ricardo-Viner model)?

Accepted Answer

A) Steel workers and steel factory owners both lobby for tariffs on imported steel. 
B) Steel workers and agricultural workers join together to oppose tariffs. 
C) Owners of factories in a country with abundant fertile land promote free trade. 
D) Car manufacturers and owners of megafarms collude in lobbying for tariffs on car and wheat imports. 
E) Workers in an automobile factory promote free trade while the factory owners lobby for tariffs on imported cars. 
A) Steel workers and steel factory owners both lobby for tariffs on imported steel. 
B) Steel workers and agricultural workers join together to oppose tariffs. 
C) Owners of factories in a country with abundant fertile land promote free trade. 
D) Car manufacturers and owners of megafarms collude in lobbying for tariffs on car and wheat imports. 
E) Workers in an automobile factory promote free trade while the factory owners lobby for tariffs on imported cars.

Question 14

Why do economists believe that free trade would be beneficial for the world economy? Why do nations still erect barriers in the face of those arguments?

Accepted Answer

The answer of Why do economists believe that free trade...

Question 15

Which of the following is an example of absolute advantage?

Accepted Answer

A) Japan makes cars more efficiently than the United States. 
B) Germany makes cars more efficiently than the United States,and the United States makes software more efficiently than Germany. 
C) The United States is likely to win in a trade war against either Germany or Japan. 
D) Japan makes cars more efficiently than any other country. 
E) All countries are equally efficient at making software. 
A) Japan makes cars more efficiently than the United States. 
B) Germany makes cars more efficiently than the United States,and the United States makes software more efficiently than Germany. 
C) The United States is likely to win in a trade war against either Germany or Japan. 
D) Japan makes cars more efficiently than any other country. 
E) All countries are equally efficient at making software.

Question 16

Why do powerful countries like the United States abide by WTO rules,even when the WTO rules against them?

Accepted Answer

Powerful countries like the United State

Question 17

How do international institutions affect whether the world trading system is more or less open?

Accepted Answer

The answer of How do international institutions affect whether the...

Question 18

The creation of the European Common Market and the subsequent growth of the customs union in Europe is best an example of the importance of ________ in international trade.

Accepted Answer

A) interests 
B) institutions 
C) ideas 
D) interactions 
E) identities 
A) interests 
B) institutions 
C) ideas 
D) interactions 
E) identities

Question 19

Why do countries restrict trade?

Accepted Answer

A) Some influential interest groups may benefit from tariffs. 
B) Trade restrictions do not come with any costs for the country imposing them. 
C) Trade restrictions usually are the best way to improve a country's overall economy. 
D) Free trade hurts industries that make use of the most abundant resource in a country. 
E) Trade restrictions are more important to consumers than to producers of products. 
A) Some influential interest groups may benefit from tariffs. 
B) Trade restrictions do not come with any costs for the country imposing them. 
C) Trade restrictions usually are the best way to improve a country's overall economy. 
D) Free trade hurts industries that make use of the most abundant resource in a country. 
E) Trade restrictions are more important to consumers than to producers of products.

Question 20

Which of the following statements best describes the opinion of most economists about trade?

Accepted Answer

A) Trade barriers are bad for economic growth and well-being. 
B) Trade barriers have no discernible effect on domestic production. 
C) Trade barriers have no long-term effect on exports. 
D) Trade barriers are "a rising tide that lifts all boats." 
E) Trade barriers disproportionately hurt low-skilled labor. 
A) Trade barriers are bad for economic growth and well-being. 
B) Trade barriers have no discernible effect on domestic production. 
C) Trade barriers have no long-term effect on exports. 
D) Trade barriers are "a rising tide that lifts all boats." 
E) Trade barriers disproportionately hurt low-skilled labor.

Which statement best describes the position of the United States toward free trade?

Which of the following is NOT a trade barrier?

Which of the following is most likely to help countries overcome trade problems with each other?

The table is an example of:

Antiglobalization critics criticize the WTO because they think it:

What is the theory of hegemonic stability?

In the figure,at what level will domestic firms produce under liberalization?

What factors make it more likely that countries will have trade agreements? How do strategic interactions make it more or less likely that a country will erect a trade barrier?

Which of the following statements about trade policy is true?

Which of the following is most likely to benefit from protectionism?

Which of the following would be a movement toward the Pareto frontier with regard to the benefits of trade?

Which is true of Portugal in the table?

Which of the following is explained well by the specific-factor approach (Ricardo-Viner model)?

Why do economists believe that free trade would be beneficial for the world economy? Why do nations still erect barriers in the face of those arguments?

Which of the following is an example of absolute advantage?

Why do powerful countries like the United States abide by WTO rules,even when the WTO rules against them?

How do international institutions affect whether the world trading system is more or less open?

The creation of the European Common Market and the subsequent growth of the customs union in Europe is best an example of the importance of ________ in international trade.

Why do countries restrict trade?

Which of the following statements best describes the opinion of most economists about trade?

Introduction

What Shaped Our World

Understanding Interests, interactions, and Institutions

Why Are There Wars

Domestic Politics and War

International Institutions and War

Violence by Nonstate Actors: Civil War and Terrorism

International Financial Relations

International Monetary Relations

Development: Causes of the Wealth and Poverty of Nations

International Law and Norms

Human Rights

The Global Environment

The Future of International Politics

Foundations, war, and Peace

International Political Economy, transnational Politics, and Looking Ahead

Filters

Exam 8: International Trade

Which statement best describes the position of the United States toward free trade?

Which of the following is NOT a trade barrier?

Which of the following is most likely to help countries overcome trade problems with each other?

The table is an example of:

Antiglobalization critics criticize the WTO because they think it:

What is the theory of hegemonic stability?

In the figure,at what level will domestic firms produce under liberalization?

What factors make it more likely that countries will have trade agreements? How do strategic interactions make it more or less likely that a country will erect a trade barrier?

Which of the following statements about trade policy is true?

Which of the following is most likely to benefit from protectionism?

Which of the following would be a movement toward the Pareto frontier with regard to the benefits of trade?

Which is true of Portugal in the table?

Which of the following is explained well by the specific-factor approach (Ricardo-Viner model)?

Why do economists believe that free trade would be beneficial for the world economy? Why do nations still erect barriers in the face of those arguments?

Which of the following is an example of absolute advantage?

Why do powerful countries like the United States abide by WTO rules,even when the WTO rules against them?

How do international institutions affect whether the world trading system is more or less open?

The creation of the European Common Market and the subsequent growth of the customs union in Europe is best an example of the importance of ________ in international trade.

Why do countries restrict trade?

Which of the following statements best describes the opinion of most economists about trade?

Introduction

What Shaped Our World

Understanding Interests, interactions, and Institutions

Why Are There Wars

Domestic Politics and War

International Institutions and War

Violence by Nonstate Actors: Civil War and Terrorism

International Financial Relations

International Monetary Relations

Development: Causes of the Wealth and Poverty of Nations

International Law and Norms

Human Rights

The Global Environment

The Future of International Politics

Foundations, war, and Peace

International Political Economy, transnational Politics, and Looking Ahead

Filters