A. 2 million barrels per day, $100, $60 million
B. 4 million barrels per day, $80, $160 million
C. 6 million barrels per day, $60, $60 million
D. 8 million barrels per day, $40, $20 million
Trade Policies For the Developing Nations
To stabilize the prices of primary products international commodity agreements have utilized all of the following except ?
A. tariff-rate quotas applied to imported goods
B. production and export controls
C. buffer stocks
D. multilateral contracts
Because supply and demand conditions for primary products are very price inelastic their prices ?
A. have been steadily rising in recent decades
B. have been more stable than the prices of manufactured goods
C. fluctuate about as much as the prices of manufactured goods
D. tend to be very unstable from year to year
For the oil-importing countries, the increase in oil prices in 1970s and early 2000s contributed to all of the following except ?
A. balance of trade deficits
B. price inflation
C. constrained economic growth
D. improving terms of trade
Concerning tariff policy, the United States does not charge?
A. lower tariff rates on goods from nations with normal trade relation status
B. lower tariff rates on goods from nations with most favored nation status
C. low or zero tariffs on goods from certain developing countries
D. identical tariff rates in products from all countries of the world
The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ?
A. normal trade relation status
B. most favored nation status
C. offshore assembly provisions
D. Generalized System of Preferences
All of the following are trade problems of developing countries except?
A. unstable export markets
B. improving terms of trade
C. limited access to the markets of industrial countries
D. highly elastic demand curves for their products
The pattern of economic growth describes the phenomenon of countries moving up in technological development by following the patterns of countries ahead of them in the development process ?
A. flying geese
B. import substitution
C. export orientation
D. commodity expansion
A widely used indicator to differentiate developed countries from developing countries is ?
A. international trade per capita
B. real income per capital
C. unemployment per capita
D. calories per capita
Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?
A. sell 4 million pounds of tin
B. sell 8 million pounds of tin
C. buy 4 million pounds of tin
D. buy 8 million pounds of tin
