Exam 11: International Economics: The Alternative Road

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Recently there have been many efforts to create free trade zones.NAFTA represents such an effort.Some want to include Central and South America and the Caribbean in a larger FTAA.Do you think the United States should favor such a development? Discuss.

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Advocates of free trade argue that LDCs benefit from adopting a free-trade philosophy for all of the following reasons except that

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The recent collapse of the Doha Round of trade talks failed largely because

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The authors outline two possible paths for the future of the international economy: one of economic nationalism and one of economic internationalism,with elements of each being present in the current international system.Which path is likely to be more popular in the future? Explain your answer.

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The FTAA has linked the Northern Hemisphere into a single market.

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The International Finance Corporation focuses on making loans to

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One country that challenged the IMF in 2001,arguing that the terms of IMF loans eliminated domestic control over economic policy,was

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The struggle between the forces of economic internationalism and economic nationalism

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Most LDCs are able to provide their own development capital.

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The IMF currently follows a system under which currencies are exchanged against the U.S.dollar on a fixed rate tied to the price of gold.

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As of 2002,which country has been involved in WTO hearings most frequently?

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Economic internationalists maintain a number of arguments to support the benefits of free trade.List at least four of these arguments.

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Which of the following is not a typical condition associated with an IMF loan?

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What type of trade protections were included in the Uruguay Round of GATT revisions for the first time?

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What event served as the impetus to change the structure and course of international economic reform?

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Which of the following countries do free-trade ad­vocates use as evidence that free trade promotes democracy?

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The IMF was established

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Economic nationalists argue that free trade threatens the domestic labor force and job security.

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What is the purpose of the IMF?

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Explain the economic internationalist argument that maintains that free trade promotes democracy.

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