20517644
Beschreibung
Quiz von Tutik Inayati, aktualisiert more than 1 year ago
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Erstellt von Tutik Inayati
vor mehr als 4 Jahre
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Frage 1
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The existence of positive externalities due to the impossibility of full appropriability
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supports the conclusions of the Heckscher-Ohlin model.
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rejects the usefulness of government protectionism
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supports the concept that the government should support only high-tech industries
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provides support for government protectionism.
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supports arguments for free trade
Frage 2
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The United States....
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does not provide more support for R&D as compared to other forms of investment
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provides support for R&D by imposing high tariffs on R&D intensive products
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provides support for R&D by providing direct subsidies for such activities.
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provides support for R&D through tax legislation.
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provides support for R&D through grant incentives.
Frage 3
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The Brander-Spencer model identified market failure in certain industries due to
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unfair competition.
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wildcat destructive competition.
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environmental negative externalities associated with pollution.
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limited competition.
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lack of excess returns.
Frage 4
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In the Brander-Spencer model the subsidy raises profits by more than the subsidy because of
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the "multiplier" effect of government expenditures.
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the military-industrial complex.
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the forward and backward linkage effects of certain industries.
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the deterrent effect of the subsidy on foreign competition.
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the economies of scale once the company enters the market.
Frage 5
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Criticisms of the Brander-Spencer model include all EXCEPT which of the following?
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the problem of insufficient information
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the problem of likely foreign retaliation
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the problem of harm to interests of consumers
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the problem of adverse effects of trade policy politics
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the problem of simultaneously causing harm to other industries
Frage 6
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Japan's protection of its semiconductor (RAM) producers is today seen as an object lesson in
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how strategic planning may backfire and cause a large waste of resources.
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how externalities may be successfully exploited by protectionist policies.
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how excess returns may be successfully exploited by protectionist policies.
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how government intervention may create a meaningful comparative advantage.
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how monopolies can outlast government intervention.
Frage 7
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The Heckscher-Ohlin, factor-proportions model lends support to the argument that
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trade tends to worsen the conditions of unskilled labor in rich countries.
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trade tends to worsen the conditions of owners of capital in rich countries.
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trade tends to worsen the conditions of workers in poor countries.
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trade tends to worsen the conditions of workers in rich countries.
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trade tends to worsen the conditions of highly skilled workers in rich countries.
Frage 8
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If firms in an industry are generating knowledge that other firms can use without paying for it, this industry is characterized by
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social costs that exceed private costs.
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social benefits that exceed private benefits.
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social costs that exceed social benefits.
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private benefits that exceed social benefits.
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social benefits that undermine private benefits.
Frage 9
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It is argued that high-tech industries typically generate new technologies but cannot fully appropriate the commercial benefits associated with their inventions or discoveries. If this is true then in order to maximize a country's real income, the government should
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tax the high-tech firms.
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subsidize the high-tech firms.
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protect the high-tech firms.
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outsource high-tech production.
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discourage high-tech investments.
Frage 10
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In effect, the U.S. does subsidize high-tech firms by subsidizing R&D. This is done through
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the budget of the Department of Education.
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systematic protection through the levying of tariffs.
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systematic protection through the establishment of NTBs.
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relatively accelerated "depreciation" of R&D investment in the Federal tax codes.
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subsidies for high-tech firms.
Frage 11
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The best economic case one can make for an active industrial policy involves
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the national security argument.
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the technological spillover argument.
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the environment preservation argument.
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the high value added argument.
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raising the national income.
Frage 12
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Spencer and Brander's model highlights the existence of
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aircraft industries.
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excess returns present in highly competitive markets.
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excess returns, or rents, available in non-competitive markets.
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the futility of government bureaucrats' attempts to build an airplane.
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natural advantages in foreign technology firms.
Frage 13
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Spencer and Brander's model highlights the conventional assumption that
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government involvement in business or in the economy tends to fail.
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government subsidies tend to waste taxpayer's money.
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government subsidies cannot create a successfully competing export.
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government tends to distort when it displaces Adam Smith's Invisible Hand.
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government subsidies can produce profits that exceed the subsidy's value.
Frage 14
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The reason Airbus succeeded in the Brander Spencer example is that
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Boeing made the first move in this strategic game.
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Europeans tend to be better strategists than corn-fed Americans.
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the Airbus actually was a better plane than the Boeing 747.
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U.S. laws actually prohibit U.S. exporters from bribing foreign officials.
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the subsidy removed the advantage that Boeing gained with their head start in production.
Frage 15
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The reason Airbus succeeded in the Brander Spencer example is that
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the European government made an explicit subsidy offer, but the U.S. government did not.
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Airbus' prices were better when adjusted for quality and warranty services.
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Boeing traditionally refused to undertake any exchange rate risk in its transactions.
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the U.S. acted in accordance with its ideological reliance on market solutions, whereas the Europeans ignored market and technological factors.
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the Airbus plane benefited from more advanced technology.
Frage 16
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The argument that strategic planning is not likely to be practical due to insufficient information means that
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because of trade secrets, the government does not know true cost relationships in any given industry.
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if the government had all the relevant information in a given industry then it could decide whether a subsidy would enhance the public's welfare.
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even if the government had all the relevant information in a given industry, it still could not decide whether a subsidy would enhance the public's welfare.
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due to recent cuts in the Department of the Census' sampling budgets, industry surveys are no longer reliable, so that there is no way to determine if a subsidy is in the public's interest.
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the government would need to employ its intelligence agencies in order to gain a complete understanding of the market.
Frage 17
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The invocation of beggar-thy-neighbor arguments with respect to industrial policies
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strengthens the argument for subsidies.
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makes sense if the international Keynesian multipliers exceed unity.
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applies only to rich countries most of whose trade partners are very poor countries.
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weakens the argument for subsidies.
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does not apply to rich countries who can influence relative world prices.
Frage 18
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When the WTO met in Seattle to initiate a further move towards free international trade, thousands of activists met
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in order to promote the WTO's goals of "Trade-not Aid."
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in order to laud the WTO policy orientation which would bust local monopolies and therefore help ordinary relatively poor consumers everywhere.
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in order to laud the WTO policy of disallowing government sweetheart deals, which typically meant that corrupt governments subsidized their in-laws' conglomerates on the backs of poor taxpayers.
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in order to support the WTO efforts of bringing about a universal shift of resources in poor countries to higher efficiency and productivity uses, which would raise the real incomes of everyone.
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in order to protest WTO free trade policies that they believed hurt workers.
Frage 19
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When one applies the Heckscher-Ohlin model of trade to the issue of trade-related income redistributions, one must conclude that North South trade, such as U.S.-Mexico trade
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must help low skill workers on both sides of the border.
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is likely to hurt high-skilled workers in the U.S.
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is likely to hurt low-skilled workers in the U.S.
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is likely to hurt low-skilled workers in Mexico.
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is likely to help highly skilled workers in Mexico.
Frage 20
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The evidence usually cited to prove that globalization hurts workers in developing countries
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is inconclusive due to poor statistical design of the underlying samples.
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is inconclusive due to the poorly funded Central Statistical Office of Mexico.
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is inconclusive due to the ambiguous theoretical implications of the findings.
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is conclusive.
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does not take into account the Heckscher-Ohlin model.
Frage 21
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The proposal that trade agreements should include a system which monitors worker conditions and make the results available to consumers in the rich importing country
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is consistent with the Invisible Hand paradigm.
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is consistent with the market failure approach.
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is consistent with the Ricardian theory of comparative advantage.
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is consistent with the scale economies approach to trade theory.
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is consistent with the principles laid out by the WTO.
Frage 22
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Labor standards in trade are typically opposed by most developing countries who believe that they will be used
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to further neo-imperialist colonial exploitation.
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to charge these countries with crimes against child-labor standards at the Hague.
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as a protectionist tool by import-competing producers in industrial countries.
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as a means of spreading U.S. Corporate Values and destroying local cultures.
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to hinder investment in foreign-based multinational corporations.
Frage 23
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The WTO seems at times to be interfering in domestic policy since
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the line between domestic policies and de factor protectionism is often fuzzy.
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it is a supra-national organization with the power to overturn governments.
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it determines which nations may trade what with whom.
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it punishes naughty nations.
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it exempts the U.S. and other powerful member nations from many of its edicts.
Frage 24
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In today's world markets, poor developing countries tend to rely primarily on exports of
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agricultural products.
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primary products.
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mineral products.
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manufactured products.
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high-tech products.
Frage 25
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In the second half of the 1990s a rapidly growing movement focused on the harm caused by international trade to
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land owners in poor countries.
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capital owners in rich industrialized countries.
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land owners in rich industrialized countries.
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production workers in both rich and poor countries.
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terms of trade in developing countries.
Frage 26
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The Ricardian model of comparative advantage lends support to the argument that
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trade tends to worsen the conditions of unskilled labor in rich countries.
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trade tends to worsen the conditions of owners of capital in rich countries.
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trade tends to worsen the conditions of workers in poor countries.
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trade tends to worsen the conditions of workers in rich countries.
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trade is mutually beneficial to the countries that engage in it.
Frage 27
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Most developing countries oppose including labor standards in trade agreements because
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they believe this would involve a loss of their national sovereignty.
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they believe this would limit their ability to export to rich markets.
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they believe this would create an uneven playing field.
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multinational corporations control them.
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they do not want to improve wages for their workers.
Frage 28
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When Japan's MITI (Ministry of International Trade and Industry) focused resources on the semiconductor industry, and in particular on Random Access Memory (RAM), it was viewed as a typically successful Japanese foray into a new dynamic strategic sector. The results, as viewed by the late 1990s
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justified this view.
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led to similar structuring of industrial policy in the U.S.
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lent support to the Brander-Spencer model.
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helped shift the focus of economists away from Japanese-style industrial policy.
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propelled Japan into the leading country in high-tech manufacturing.
Frage 29
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Low wages and poor working conditions in many U.S. trade partners
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prove that the gains-from-trade arguments of the Ricardian model are false.
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may be a fact of life, but economists don't care.
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are facts emphasized by U.S. labor in its contract negotiations.
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prove that the gains-from-trade arguments of the Ricardian model are true.
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prove that international trade is exploitative.
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