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Questions in this quiz (25)
1There is wide agreement that innovation and entrepreneurial activity are the engines
of long-run economic growth.- ATrue
- BFalse
2Because Buddhists, like Hindus, stress spiritual achievement rather than involvement in the world, the emphasis on wealth creation that is embedded in Protestantism is not found in Buddhism. Thus, in Buddhist societies we do not see the same kind of cultural stress on entrepreneurial behavior that we see in the Protestant West.
- ATrue
- BFalse
3Import quotas benefit domestic consumers.
- ATrue
- BFalse
4In the 1960s global business activity was dominated by large Japanese multinational corporations.
- ATrue
- BFalse
5Many of the economic principles of Islam are anti-free enterprise.
- ATrue
- BFalse
6 Administrative trade policies are bureaucratic rules that are designed to make it difficult for export to leave a country.
- ATrue
- BFalse
7A tariff of 15% per barrel on imported oil is an example of an ad valorem tariff.
- ATrue
- BFalse
8Globalization refers to the shift toward a more integrated and interdependent world economy.
- ATrue
- BFalse
9Economists argue that despite the many benefits to globalization, an increase in international trade and cross-border investments will result in higher prices for goods and services.
- ATrue
- BFalse
10Political systems that emphasize collectivism tend to be totalitarian, while political systems that place a high value on individualism tend to be democratic.
- ATrue
- BFalse
11The most common form of theocratic totalitarianism is based on Islam and is exemplified by states such as Iran and Saudi Arabia.
- ATrue
- BFalse
12Because common law tends to be relatively ill specified, contracts drafted under a common law framework tend to be very detailed with all contingencies spelled out.
- ATrue
- BFalse
13The Foreign Corrupt Practices Act makes it illegal to bribe a foreign government in order to obtain or maintain business over which that foreign official has authority.
- ATrue
- BFalse
14Japanese society is characterized by a great deal of dynamism and entrepreneurship, reflecting the primacy of values associated with individualism.
- ATrue
- BFalse
15A country's economy would gain only if its citizens buy products that are made in that country.
- ATrue
- BFalse
16Specific tariffs are levied as a proportion of the value of the imported good.
- ATrue
- BFalse
17The two macro factors that seem to underlie the trend towards greater globalization are:
- Athe increase in barriers to the free flow of goods, services, and capital that has occurred since the end of World War II, and the decline in economic pressures around the world
- Bthe decline in political tensions around the world, formal and informal barriers to trade between countries
- Cthe decline in barriers to the free flow of goods, services, and capital that has occurred since the end of World War II, and technological change
- Da convergence in consumer tastes around the world, an increase in political tensions around the world
18The term _________ refers to the extent to which individuals can move out of the strata into which they are born.
- Avertical mobility
- Bsocial potential
- Csocial mobility
- Dvertical potential
19Social democracy has had its greatest influence in the following group of countries:
- ACanada, United States, Mexico, and Spain.
- BIndia, packistan, burma, nepal
- Caustralia, britian, france, germany, norway
- Dbrazil, chile, uruguay, ecuador
20All of the following were accomplishments of the 1993 Uruguay Round, with the exception of:
- Aextended GATT to cover services and goods
- Bfurther reducing trade barriers
- Celiminating tariffs on all consumer goods
- Destablished a WTO
21 As it relates to international trade, strategic trade policy consists of:
- Agovernment development or production subsidies designed to expand specific terms or industries and thus increase American exports.
- Blimits on American exports of defense-related products
- Cnegoitations to repeal national antidumping laws
- Dmultilateral negotiations such as GATT
22The Heckscher-Ohlin theory argues that the pattern of international trade is determinedby differences in
- Aproductivity
- Bfactor endowments
- Cpolitical interests
- Dnational priorities
23What is the purpose of the international monetary fund?
- Ato maintain order in the international monetary system
- Bto usurp sovereignty of borrowing nations
- Cto promote respect for human rights
- Dto regulate policies of poor nations and create infrastructure development
24Which of the following statements is a fair comparison of the Heckscher-Ohlin theory and the Ricardo theory of fair trade?
- Aboth theories argue pattern of int'l trade is determined by currency exchange rates
- BUnlike Ricardo's theory, the Heckscher-Ohlin theory argues that the pattern of international trade is determined by differences in factor endowments, rather than differences in productivity.
- Cboth theories argue that intl trade is determined by constant returns to specialization
- Dricardos theory makes fewer simplifying assumptions
25Of the following, which one was considered a multilateral agreement whose objective was to liberalize trade by eliminating tariffs, subsidies, import quotas, and the like?
- AGATT
- BWTSA
- CUN
- DWTO
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- Quiz on Untitled, created by apull on 04/05/2015.
- Author
- apull
- Language
- English
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