Question 1

The world economy is decreasingly integrated on a global scale,generating wealth at a decelerating pace.

Accepted Answer

A) True 
 B)False

Question 2

A tariff is a type of tax imposed on __________ by a state.

Accepted Answer

A) luxury goods 
B) revenues 
C) imports 
D) exports 
A) luxury goods 
B) revenues 
C) imports 
D) exports

Question 3

Retaliation for cases of dumping usually comes in the form of __________.

Accepted Answer

A) dumping in the offending state's market 
B) quotas on the products being dumped 
C) tariffs to raise the price back to market levels 
D) subsidies for those companies being harmed 
A) dumping in the offending state's market 
B) quotas on the products being dumped 
C) tariffs to raise the price back to market levels 
D) subsidies for those companies being harmed

Question 4

By the beginning of the twentieth century,__________ replaced __________ as the state with the world's largest and most advanced economy.

Accepted Answer

A) Germany,France 
B) Japan,the United States 
C) the United States,Britain 
D) Britain,Germany 
A) Germany,France 
B) Japan,the United States 
C) the United States,Britain 
D) Britain,Germany

Question 5

Which policy would be followed by a protectionist state?

Accepted Answer

A) imposing tariffs 
B) dumping 
C) eliminating export duties 
D) disallowing quotas on imports 
A) imposing tariffs 
B) dumping 
C) eliminating export duties 
D) disallowing quotas on imports

Question 6

In a free market,the supply and demand curves cross at the __________.

Accepted Answer

The answer of In a free market,the supply and demand...

Question 7

Trade in services includes __________.

Accepted Answer

A) banking and insurance 
B) telecommunications and arms 
C) tourism and textiles 
D) computer technology and aerospace 
A) banking and insurance 
B) telecommunications and arms 
C) tourism and textiles 
D) computer technology and aerospace

Question 8

Which statement is true about the capitalist world economy immediately after World War II?

Accepted Answer

A) The United States provided major assistance to rebuild Western Europe and Japan. 
B) World trade declined as countries focused on rebuilding their domestic economies. 
C) The Soviet Union and Eastern Europe began their transition to capitalism. 
D) The capitalist world economy was restructured under joint U.S.-British-French leadership. 
A) The United States provided major assistance to rebuild Western Europe and Japan. 
B) World trade declined as countries focused on rebuilding their domestic economies. 
C) The Soviet Union and Eastern Europe began their transition to capitalism. 
D) The capitalist world economy was restructured under joint U.S.-British-French leadership.

Question 9

Leading producers,sometimes in conjunction with leading consumers,occasionally use national cartels to control and stabilize prices for a commodity on world markets.

Accepted Answer

A) True 
 B)False

Question 10

Proponents believed a positive balance of trade was essential to a state because it was a significant source of __________.

Accepted Answer

A) diplomacy 
B) power 
C) democracy 
D) capitalism 
A) diplomacy 
B) power 
C) democracy 
D) capitalism

Question 11

The fact that supply and demand do not always produce stability is demonstrated by the wild swings in the price of __________.

Accepted Answer

A) automobiles 
B) steel 
C) food 
D) oil 
A) automobiles 
B) steel 
C) food 
D) oil

Question 12

The second-largest trading partner of the United States is __________.

Accepted Answer

A) Japan 
B) Great Britain 
C) Canada 
D) Mexico 
A) Japan 
B) Great Britain 
C) Canada 
D) Mexico

Question 13

The most prominent cartel in the international economy is the __________.

Accepted Answer

A) International Energy Agency 
B) Organization of Petroleum Exporting Countries 
C) North American Free Trade Agreement 
D) Free Trade Area of the Americas 
A) International Energy Agency 
B) Organization of Petroleum Exporting Countries 
C) North American Free Trade Agreement 
D) Free Trade Area of the Americas

Question 14

The __________ oversees the world's most important multilateral agreement on intellectual property.

Accepted Answer

A) United Nations 
B) World Intellectual Property Organization 
C) World Trade Organization 
D) United States 
A) United Nations 
B) World Intellectual Property Organization 
C) World Trade Organization 
D) United States

Question 15

The potential free-trade area in the Western Hemisphere,from Alaska to Argentina,is called the __________.

Accepted Answer

Free Trade

Question 16

Autarkic states tend to exhibit what type of growth?

Accepted Answer

A) average 
B) high 
C) low 
D) cyclical 
A) average 
B) high 
C) low 
D) cyclical

Question 17

The existence of world markets may reduce the leverage that one state can exert over another in economic affairs because __________.

Accepted Answer

A) the supply and demand curves cross at the equilibrium price 
B) the second state can find other partners 
C) bilateral relations between states are more important in economic affairs than they are in security affairs 
D) the distribution of benefits from trade may not be divided equally among participating states 
A) the supply and demand curves cross at the equilibrium price 
B) the second state can find other partners 
C) bilateral relations between states are more important in economic affairs than they are in security affairs 
D) the distribution of benefits from trade may not be divided equally among participating states

Question 18

How does liberalism compare with mercantilism?

Accepted Answer

A) Liberalism is not concerned with whether one state gains more or less than another,just whether the state's wealth is increasing in absolute terms,whereas mercantilism emphasizes that each state must protect its own interests at the expense of others. 
B) Liberalism emphasizes conflicting interests in economic exchanges,whereas mercantilism emphasizes shared interests. 
C) Liberalism asserts that the most important goal of economic policy is the creation of the most favorable possible distribution of wealth,whereas mercantilism asserts that the most important goal is the maximum creation of total wealth. 
D) Liberalism advocates a role for politics in market processes,whereas mercantilism advocates for market processes to be relatively unhindered by political elements. 
A) Liberalism is not concerned with whether one state gains more or less than another,just whether the state's wealth is increasing in absolute terms,whereas mercantilism emphasizes that each state must protect its own interests at the expense of others. 
B) Liberalism emphasizes conflicting interests in economic exchanges,whereas mercantilism emphasizes shared interests. 
C) Liberalism asserts that the most important goal of economic policy is the creation of the most favorable possible distribution of wealth,whereas mercantilism asserts that the most important goal is the maximum creation of total wealth. 
D) Liberalism advocates a role for politics in market processes,whereas mercantilism advocates for market processes to be relatively unhindered by political elements.

Question 19

A unilateral method of protecting domestic producers from __________ by imposing a limit on the maximum volume of allowable imports is known as a quota.

Accepted Answer

A) tariffs 
B) foreign competition 
C) subsidies 
D) predatory loans 
A) tariffs 
B) foreign competition 
C) subsidies 
D) predatory loans

Question 20

The largest,and most comprehensive,regional free trade area is in __________.

Accepted Answer

A) North America 
B) South America 
C) Europe 
D) Asia 
A) North America 
B) South America 
C) Europe 
D) Asia

The world economy is decreasingly integrated on a global scale,generating wealth at a decelerating pace.

A tariff is a type of tax imposed on __________ by a state.

Retaliation for cases of dumping usually comes in the form of __________.

By the beginning of the twentieth century, replaced as the state with the world's largest and most advanced economy.

Which policy would be followed by a protectionist state?

In a free market,the supply and demand curves cross at the __________.

Trade in services includes __________.

Which statement is true about the capitalist world economy immediately after World War II?

Leading producers,sometimes in conjunction with leading consumers,occasionally use national cartels to control and stabilize prices for a commodity on world markets.

Proponents believed a positive balance of trade was essential to a state because it was a significant source of __________.

The fact that supply and demand do not always produce stability is demonstrated by the wild swings in the price of __________.

The second-largest trading partner of the United States is __________.

The most prominent cartel in the international economy is the __________.

The __________ oversees the world's most important multilateral agreement on intellectual property.

The potential free-trade area in the Western Hemisphere,from Alaska to Argentina,is called the __________.

Autarkic states tend to exhibit what type of growth?

The existence of world markets may reduce the leverage that one state can exert over another in economic affairs because __________.

How does liberalism compare with mercantilism?

A unilateral method of protecting domestic producers from __________ by imposing a limit on the maximum volume of allowable imports is known as a quota.

The largest,and most comprehensive,regional free trade area is in __________.

The Globalization of International Relations

Realist Theories

Liberal and Social Theories

Foreign Policy

International Conflict

Military Force and Terrorism

International Organization, Law, and Human Rights

Global Finance and Business

International Integration

Environment and Population

The North-South Gap

International Development

Filters

Exam 8: International Trade

The world economy is decreasingly integrated on a global scale,generating wealth at a decelerating pace.

A tariff is a type of tax imposed on __________ by a state.

Retaliation for cases of dumping usually comes in the form of __________.

By the beginning of the twentieth century,__________ replaced __________ as the state with the world's largest and most advanced economy.

Which policy would be followed by a protectionist state?

In a free market,the supply and demand curves cross at the __________.

Trade in services includes __________.

Which statement is true about the capitalist world economy immediately after World War II?

Leading producers,sometimes in conjunction with leading consumers,occasionally use national cartels to control and stabilize prices for a commodity on world markets.

Proponents believed a positive balance of trade was essential to a state because it was a significant source of __________.

The fact that supply and demand do not always produce stability is demonstrated by the wild swings in the price of __________.

The second-largest trading partner of the United States is __________.

The most prominent cartel in the international economy is the __________.

The __________ oversees the world's most important multilateral agreement on intellectual property.

The potential free-trade area in the Western Hemisphere,from Alaska to Argentina,is called the __________.

Autarkic states tend to exhibit what type of growth?

The existence of world markets may reduce the leverage that one state can exert over another in economic affairs because __________.

How does liberalism compare with mercantilism?

A unilateral method of protecting domestic producers from __________ by imposing a limit on the maximum volume of allowable imports is known as a quota.

The largest,and most comprehensive,regional free trade area is in __________.

The Globalization of International Relations

Realist Theories

Liberal and Social Theories

Foreign Policy

International Conflict

Military Force and Terrorism

International Organization, Law, and Human Rights

Global Finance and Business

International Integration

Environment and Population

The North-South Gap

International Development

Filters

By the beginning of the twentieth century, replaced as the state with the world's largest and most advanced economy.