Question 1

An important function of international institutions during times of crisis is to

Accepted Answer

A) make goods nonrival. 
B) make goods nonexcludable. 
C) prevent free riding. 
D) prevent nondiscrimination. 
A) make goods nonrival. 
B) make goods nonexcludable. 
C) prevent free riding. 
D) prevent nondiscrimination.

Question 2

The IMF,because it can force nations to take loans and bail out packages,has more power than other international governmental organizations dealing with the global economy.

Accepted Answer

A) True 
 B)False

Question 3

If a good or service does not get used up as it is consumed,then it is said to be

Accepted Answer

A) nonexcludable. 
B) nonrival. 
C) nondiscrimination. 
D) nonconsumable. 
A) nonexcludable. 
B) nonrival. 
C) nondiscrimination. 
D) nonconsumable.

Question 4

The International Bank for Reconstruction and Development (IBRD)part of the World Bank is set up to lend to whom and for what types of projects?

Accepted Answer

Developing nations' government

Question 5

The majority of economists favor open capital flows.

Accepted Answer

A) True 
 B)False

Question 6

When the United States gives MFN status to China,it means that

Accepted Answer

A) China is treated better than other U.S. trading partners. 
B) China is treated the same as other U.S. trading partners. 
C) China is treated worse than other U.S. trading partners. 
D) China is legally bound to reciprocate. 
A) China is treated better than other U.S. trading partners. 
B) China is treated the same as other U.S. trading partners. 
C) China is treated worse than other U.S. trading partners. 
D) China is legally bound to reciprocate.

Question 7

Until the Uruguay Round of trade negotiations,which of the following sectors were NOT included in the rules for international trade?

Accepted Answer

A) Steel and agriculture 
B) Agriculture and apparel 
C) Steel and textiles 
D) Automobiles and agriculture 
A) Steel and agriculture 
B) Agriculture and apparel 
C) Steel and textiles 
D) Automobiles and agriculture

Question 8

A country's foreign exchange reserves refers to

Accepted Answer

A) the currency of the nation itself. 
B) the country's holdings of gold and internationally accepted currencies. 
C) the total amount of a country's currency held by other nations. 
D) the country's Special Drawing Rights (SDRs)at the IMF. 
A) the currency of the nation itself. 
B) the country's holdings of gold and internationally accepted currencies. 
C) the total amount of a country's currency held by other nations. 
D) the country's Special Drawing Rights (SDRs)at the IMF.

Question 9

The Tokyo Round of the GATT negotiations was notable because it was the first round

Accepted Answer

A) that included Japan. 
B) that included textiles and apparel. 
C) to begin establishing rules on subsidies. 
D) to begin discussions of exchange rates. 
A) that included Japan. 
B) that included textiles and apparel. 
C) to begin establishing rules on subsidies. 
D) to begin discussions of exchange rates.

Question 10

From the late 1940s until the creation of the WTO,the organization that was primarily responsible for conducting rounds of trade negotiations was the

Accepted Answer

A) World Bank. 
B) IMF. 
C) United Nations. 
D) GATT. 
A) World Bank. 
B) IMF. 
C) United Nations. 
D) GATT.

Question 11

A country experiencing a debt or currency crisis would contact the World Bank.

Accepted Answer

A) True 
 B)False

Question 12

One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would

Accepted Answer

A) contain communism. 
B) help countries avoid the mistakes of the 1920s and 1930s. 
C) provide a collective defense security for Western Europe and North America. 
D) ensure that world prices were not rising too rapidly. 
A) contain communism. 
B) help countries avoid the mistakes of the 1920s and 1930s. 
C) provide a collective defense security for Western Europe and North America. 
D) ensure that world prices were not rising too rapidly.

Question 13

Because of the recognition internationally of the principles of national sovereignty,nations cannot be affected by the policies of other nations and international governmental organizations.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is NOT a criticism of international institutions such as the IMF,the World Bank,or the WTO?

Accepted Answer

A) They violate national sovereignty by imposing unwanted domestic policies. 
B) They fail to understand the effects of their policies on the vulnerable. 
C) Their decision-making is biased in favor of underdeveloped nations. 
D) They ignore potentially large adjustment costs for developing nations of implementing their policies. 
A) They violate national sovereignty by imposing unwanted domestic policies. 
B) They fail to understand the effects of their policies on the vulnerable. 
C) Their decision-making is biased in favor of underdeveloped nations. 
D) They ignore potentially large adjustment costs for developing nations of implementing their policies.

Question 15

Which of the following is NOT a feature of a common market?

Accepted Answer

A) Substantial coordination of macroeconomic policies among the members 
B) Free trade in goods and services between the members 
C) Common external barriers to trade 
D) Factor mobility 
A) Substantial coordination of macroeconomic policies among the members 
B) Free trade in goods and services between the members 
C) Common external barriers to trade 
D) Factor mobility

Question 16

Which of the following is true?

Accepted Answer

A) A common market is more deeply integrated than a customs union. 
B) The European Union is a shallower and broader form of integration than NAFTA. 
C) NAFTA is an example of a customs union. 
D) Customs unions require the creation of a common currency. 
A) A common market is more deeply integrated than a customs union. 
B) The European Union is a shallower and broader form of integration than NAFTA. 
C) NAFTA is an example of a customs union. 
D) Customs unions require the creation of a common currency.

Question 17

One of the most important and most visible roles of the IMF is to

Accepted Answer

A) hold regular negotiations over tariff reductions. 
B) investigate countries that are charged with being unfair traders. 
C) provide loans to countries that need capital to develop their economies. 
D) intercede by invitation when countries cannot pay their international debts. 
A) hold regular negotiations over tariff reductions. 
B) investigate countries that are charged with being unfair traders. 
C) provide loans to countries that need capital to develop their economies. 
D) intercede by invitation when countries cannot pay their international debts.

Question 18

Which round of GATT led to the formation of the WTO?

Accepted Answer

The answer of Which round of GATT led to the...

Question 19

Which of the following is a problem that arises when trying to classify regional trade agreements?

Accepted Answer

A) Many agreements combine elements from different categories. 
B) The definition of free trade area includes that of a customs union. 
C) Some agreements include cultural issues while others do not. 
D) The most favored nation clause includes all of them. 
A) Many agreements combine elements from different categories. 
B) The definition of free trade area includes that of a customs union. 
C) Some agreements include cultural issues while others do not. 
D) The most favored nation clause includes all of them.

Question 20

MFN status means that a trading partner is getting the best trade deal possible given current national trade policies.

Accepted Answer

A) True 
 B)False

An important function of international institutions during times of crisis is to

The IMF,because it can force nations to take loans and bail out packages,has more power than other international governmental organizations dealing with the global economy.

If a good or service does not get used up as it is consumed,then it is said to be

The International Bank for Reconstruction and Development (IBRD)part of the World Bank is set up to lend to whom and for what types of projects?

The majority of economists favor open capital flows.

When the United States gives MFN status to China,it means that

Until the Uruguay Round of trade negotiations,which of the following sectors were NOT included in the rules for international trade?

A country's foreign exchange reserves refers to

The Tokyo Round of the GATT negotiations was notable because it was the first round

From the late 1940s until the creation of the WTO,the organization that was primarily responsible for conducting rounds of trade negotiations was the

A country experiencing a debt or currency crisis would contact the World Bank.

One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would

Because of the recognition internationally of the principles of national sovereignty,nations cannot be affected by the policies of other nations and international governmental organizations.

Which of the following is NOT a criticism of international institutions such as the IMF,the World Bank,or the WTO?

Which of the following is NOT a feature of a common market?

Which of the following is true?

One of the most important and most visible roles of the IMF is to

Which round of GATT led to the formation of the WTO?

Which of the following is a problem that arises when trying to classify regional trade agreements?

MFN status means that a trading partner is getting the best trade deal possible given current national trade policies.

The United States in a Global Economy

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

China and India in the World Economy

Filters

Exam 2: International Economic Institutions Since World War II

An important function of international institutions during times of crisis is to

The IMF,because it can force nations to take loans and bail out packages,has more power than other international governmental organizations dealing with the global economy.

If a good or service does not get used up as it is consumed,then it is said to be

The International Bank for Reconstruction and Development (IBRD)part of the World Bank is set up to lend to whom and for what types of projects?

The majority of economists favor open capital flows.

When the United States gives MFN status to China,it means that

Until the Uruguay Round of trade negotiations,which of the following sectors were NOT included in the rules for international trade?

A country's foreign exchange reserves refers to

The Tokyo Round of the GATT negotiations was notable because it was the first round

From the late 1940s until the creation of the WTO,the organization that was primarily responsible for conducting rounds of trade negotiations was the

A country experiencing a debt or currency crisis would contact the World Bank.

One of the strongest motivations for holding the Bretton Woods Conference was to design new international institutions that would

Because of the recognition internationally of the principles of national sovereignty,nations cannot be affected by the policies of other nations and international governmental organizations.

Which of the following is NOT a criticism of international institutions such as the IMF,the World Bank,or the WTO?

Which of the following is NOT a feature of a common market?

Which of the following is true?

One of the most important and most visible roles of the IMF is to

Which round of GATT led to the formation of the WTO?

Which of the following is a problem that arises when trying to classify regional trade agreements?

MFN status means that a trading partner is getting the best trade deal possible given current national trade policies.

The United States in a Global Economy

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

China and India in the World Economy

Filters