QUESTION Which of the following reasons contributed to the Great Depression of the 1930s? A. Inability to meet the increasing world demand for products B. Several countries accepting General Agreement on Tariffs and Trade C. Increasing attack from foreign competitors on domestic industries D. Privatization of state-owned organizations E. Countries progressively raising trade barriers against […]
QUESTION The 1993 Uruguay Round: A. increased trade and investment barriers. B. excluded the trade of services from international trade. C. transformed the World Trade Organization into the GATT. D. provided enhanced protection for patents, trademarks, and copyrights. E. promoted the worldwide rise of communism. ANSWER D The Uruguay Round reduced trade barriers; extended […]
QUESTION Which of the following has been declining in the developing nations of the world such as China, India, Russia, Indonesia, Thailand, South Korea, Mexico, and Brazil? A. Economic opportunities for international trade B. Industrialization C. Contribution toward the share of world output D. The stock of foreign direct investment E. Barriers to the free […]
QUESTION Which of the following was a part of the agenda of the Doha Round of talks launched by the WTO? A. Limiting the use of antidumping laws B. Abolishing the International Monetary Fund C. Increasing tariffs on industrial goods, services, and agricultural products D. Persuading member governments to cut defense spending E. Establishing GATT […]
QUESTION The lowering of trade and investment barriers: A. protects domestic industries from foreign competition. B. was not an agenda of the Uruguay Round. C. allows firms to base production at optimal locations outside their home country. D. creates an unfavorable environment for FDI. E. caused the Great depression of the 1930s. ANSWER C
QUESTION Gerald bought his son, David, a computer two years ago. Recently, he decided to buy his daughter, Julian, a computer of her own. In the context of the two-year gap between the purchase of both the computers and Moore’s law, it is most likely that: A. Gerald paid a higher price for Julian’s computer. […]
QUESTION Which of the following services CANNOT be outsourced to foreign nations? A. Debugging software B. Handling consumer queries C. Transcribing medical files D. Interpreting MRI scans E. Delivering closing arguments for a lawsuit ANSWER E
QUESTION Which of the following was established after the Uruguay Round to police the international trading system? A. United Nations B. International Monetary Fund C. Group of Twenty D. World Trade Organization E. World Bank ANSWER D The General Agreement on Tariffs and Trade (GATT) is an international treaty whose functions included policing the […]
QUESTION The growing income inequality is a result of the wages for skilled workers being discounted. Indicate whether the statement is true or false. ANSWER FALSE The growing income inequality is a result of the wages for skilled workers being bid up by the labor market and the wages for unskilled workers being discounted. […]
QUESTION Which of the following is an argument put forth by critics of the IMF? A. It increases barriers to the free flow of goods and investment across national borders. B. It provides assistance only to developing nations and completely ignores the developed nations. C. It is not powerful enough to ensure that the nation-states […]
