Question :
81.The act that allows Americans to sue foreign firms that use : 1299312
81.The act that allows Americans to sue foreign firms that use property in Cuba confiscated from them after the 1959 revolution is known as the:
A. Frederick-Peterson Act.
B. D’Amato-Perkins Act.
C. Perkins-Dole Act.
D. Helms-Burton Act.
E. Godfrey-Milliken Act.
82.Which one of the following Acts represents U.S. legislation that is similar to the Helms-Burton Act, but is aimed at Libya and Iran?
A. Haley’s Act
B. D’Amato Act
C. Williams Act
D. McCain-Feingold Act
E. Glass–Steagall Act
83.Which one of the following is a consequence of Helms-Burton Act?
A. With the passage of Helms-Burton Act, agriculture tended to be one of the largest beneficiaries of subsidies in the U.S.
B. It led to the formation of American Trading International, Inc.
C. The passage of Helms-Burton act elicited protests from America’s trading partners.
D. It led to the passage of the Uruguay Round Agreements Act, transforming the GATT into the WTO.
E. Global trade in agricultural products rose 50 percent higher.
84.Which of the following is the oldest economic argument for government intervention in international trade?
A. Central industry argument
B. Infant industry argument
C. Labor market argument
D. National security argument
E. Declining industry argument
85.According to _____, many developing countries have a potential comparative advantage in manufacturing, but new manufacturing industries cannot initially compete with well-established industries in developed countries.
A. economic development argument
B. comparative advantage theory
C. product life-cycle theory
D. infant industry argument
E. mixed economy theory
86._____ has recognized the infant industry argument as a legitimate reason for protectionism.
A. GATT
B. NATO
C. United Nations
D. International Monetary Fund
E. World Economic Forum
87.One of the main reasons why many economists remain critical of the infant industry argument is its reliance on the assumption that:
A. protection of manufacturing from foreign competition is harmful.
B. absolute advantage cannot sustain productivity of an industry.
C. foreign firms too come under the definition of infant industry when they newly enter a foreign market.
D. firms are unable to make efficient long-term investments by borrowing money from the domestic or international capital markets.
E. foreign competition will eventually cause domestic firms to improve the quality of their products.
88.Which of the following is a major reason why many economists remain critical of the infant industry argument?
A. It makes the domestic industry inefficient.
B. It does not provide guaranteed employment for the citizens.
C. It affects the standards of living and per capita income of the people.
D. It promotes foreign direct investment.
E. It leads to reduced prices in domestic markets.
89.According to the _____ argument, a government should use subsidies to support promising firms that are active in newly emerging industries.
A. strategic trade policy
B. public policy
C. absolute advantage
D. product life-cycle
E. industrialization
90.According to Paul Krugman, a country that attempts to use strategic trade policy to establish a domestic firm in a dominant position in a global industry, is most likely to:
A. dominate the industry.
B. move away from protectionism.
C. provoke retaliation.
D. incur huge financial debts.
E. upset the special-interest groups within the economy.
