Question :
21) For almost 70 years international trade policies have been : 1303469
21) For almost 70 years international trade policies have been governed
A) by the World Trade Organization.
B) by the International Monetary Fund.
C) by the World.
D) by an international treaty known as the General Agreement on Tariffs and Trade (GATT).
E) by the North American Free Trade Agreement (NAFTA).
22) The international capital market is
A) the place where you can rent earth moving equipment anywhere in the world.
B) a set of arrangements by which individuals and firms exchange money now for promises to pay in the future.
C) the arrangement where banks build up their capital by borrowing from the Central Bank.
D) the place where emerging economies accept capital invested by banks.
E) exclusively concerned with the debt crisis that ended in the 1990s.
23) International capital markets experience a kind of risk not faced in domestic capital markets, namely
A) “economic meltdown” risk.
B) Flood and hurricane crisis risk.
C) the risk of unexpected downgrading of assets by Standard and Poor.
D) the risk of exchange rate fluctuations.
E) the risk of political upheaval.
24) Since 1994, trade rules have been enforced by
A) the WTO.
B) the G10.
C) the GATT.
D) The U.S. Congress.
E) the European Union.
25) In 1998 an economic and financial crisis in South Korea caused it to experience
A) a surplus in their balance of payments.
B) a deficit in their balance of payments.
C) a balanced balance of payments.
D) an unbalanced balance of payments.
E) a lull in international trade.
26) In 1999, demonstrators representing a mix of traditional and new ideologies disrupted a major international trade meeting in Seattle of
A) the OECD.
B) NAFTA.
C) the WTO.
D) GATT.
E) the G8.
27) International Economists cannot discuss the effects of international trade or recommend changes in government policies toward trade with any confidence unless they know
A) their theory is the best available.
B) their theory is internally consistent.
C) their theory passes the “reasonable person” legal criteria.
D) their theory is good enough to explain the international trade that is actually observed.
E) their theory accounts for China’s unique position in international trade.
28) Trade theorists have proven that the gains from international trade
A) must raise the economic welfare of every country engaged in trade.
B) must raise the economic welfare of everyone in every country engaged in trade.
C) must harm owners of “specific” factors of production.
D) will always help “winners” by an amount exceeding the losses of “losers.”
E) usually outweigh the benefits of protectionist policies.
29) The international financial crisis of 2007 was the result of
A) failure of the Euro currency.
B) runaway inflation in the U.S.
C) a deep global recession.
D) the collapse of global currency markets.
E) defaults on U.S. mortgage-backed securities.
30) In September 2010, the finance minister of ________ declared that the world was “in the midst of an international currency war” because of rapid appreciation in the value of the country’s currency, the ________.
A) England; pound sterling
B) Germany; euro
C) Japan; yen
D) China; renminbi
E) Brazil; Real
0
re.bertyh.elpsfuben.t
