Question :
11.4 Trade and Growth: Takeoff in Asia
1) Historically those few : 1303552
11.4 Trade and Growth: Takeoff in Asia
1) Historically those few developing countries which have succeeded in significantly raising their per-capita income levels
A) did not accomplish this with import-substituting industrialization.
B) did accomplish this with import-substituting industrialization.
C) tended to provide heavy protection to domestic industrial sectors.
D) favored industrial to agricultural or service sectors.
E) did so to the detriment of their nearest neighbors.
2) Statistical evidence suggests that
A) free trade policies promote economic growth more effectively than do import substitution policies.
B) import substituting policies tend to promote effective exploitation of scale economies.
C) import substitution tends to lead to relatively low effective rates of protection.
D) import substitution is to this day the preferred growth strategy promoted by the World Bank.
E) import substitution proved to be the most effective aid for developing countries before 1970.
3) The growth successes of the high performance Asian economies
A) supports the belief that economic development requires import substitution policies.
B) rejects the belief that export-oriented industrialization is likely to promote economic development.
C) rejects the belief that economic development requires import substitution policies.
D) suggests that free trade policies are required for successful economic development.
E) enforces United States’ hesitation to trade with developing countries.
4) Which industrialization policy used by developing countries places emphasis on the comparative advantage principle as a guide to resource allocation?
A) export promotion
B) import substitution
C) international commodity agreements
D) Infant Industry promotion
E) intra-industry trade practice
5) Taiwan and South Korea are examples of developing nations that have recently pursued these industrialization policies
A) import substitution.
B) export promotion.
C) commercial dumping.
D) multilateral contract.
E) trade embargoes.
6) All the following nations except ________ have recently utilized export-led growth policies.
A) Hong Kong
B) South Korea
C) Argentina
D) Singapore
E) Taiwan
7) The development of countries like South Korea has been supported by all of the following EXCEPT
A) high domestic interest rates.
B) high domestic saving rates.
C) large endowments of human capital.
D) high levels of labor productivity.
E) reduced government regulation.
8) In 2003, the per-capita income in China was roughly ________ of that in the U.S.
A) one hundredth
B) one eighth
C) one half
D) the same as
E) one twentieth
9) The “East Asian Miracle” is
A) the ability of so many people to live in such small areas.
B) the fact that so many Influenza varieties originate from this region.
C) the fact that poor dualistic economies managed to escape the vicious circle of poverty.
D) the ability to maintain large positive trade balances with the U.S.
E) the advent of completely free labor mobility between east Asian countries.
10) The HPAE (High Performance Asian Economies) countries
A) have all consistently supported free trade policies.
B) have all consistently maintained import-substitution policies.
C) have all consistently maintained non-biased efficient free capital markets.
D) have all maintained openness to international trade.
E) have all outperformed the U.S.
