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.Management Sciences
Category: Trade Policies For the Developing Nations
An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?
A. relatively small; more difficult
B. relatively small; easier
C. relatively large; more difficult
D. relatively large; easier
To be considered a a good candidate for an export cartel, a commodity should ?
A. be a manufactured goods
B. be a primary product
C. have high price elasticity of supply
D. have a low price elasticity of demand
Among the institutions and policies that have been created to support developing countries are?
A. the world Bank
B. the international Monetary Fund
C. The Generalized System of Preferences
D. All of the above
_________ policies attempt to foster industrialization by establishing high barriers to imports of foreign goods to promote local production ?
A. absolute advantage
B. comparative advantage
C. export-led growth
D. import substitution
Most of developing-country exports consist of ?
A. primary products such as tin and bauxite
B. intermediate products
C. labor-intensive agricultural products
D. labor-intensive manufacturing products
Assume That the firms operate as purely competitive sellers (a purely competitive industry) In the long run, equilibrium price equals _________ quantity equals _________ and profits total _________?
A. $100, 2 million barrels per day $60 million
B. $80, 4 million barrels per day $70 million
C. $60, 6 million barrels per day, $20 million
D. $40, 8 million barrels per day, $0 million
Economic growth occurs because ?
A. labor forces increase
B. capital stocks increase
C. new inventions increase productivity
D. All of the above
The People’s Republic of China ?
A. is the first of the East Asian countries to be recognized for a successful outward-oriented development strategy
B. has retained to the present time its strategy of import substitution as a source of economic growth
C. has always accounted for a significant share of international trade, given its very large population
D. has significantly increased its openness to international trade and foreign investment in recent decades
To be considered a good candidate for export cartel, a commodity should ?
A. be a manufactured good
B. be a primary product
C. have a low price elasticity of supply
D. have a high price elasticity of demand
Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide ?
A. mixed evidence that does not substantiate the deterioration hypothesis
B. overwhelming support for the deterioration hypothesis
C. overwhelming opposition to the deterioration hypothesis
D. None of the above
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