Mid term test

Tuzla Mid-term Test

 

 

Which of the following is NOT an objective of the WTO?

Group of answer choices

  1. Reviewing national trade policies
  2. Acting as a forum for trade negotiations
  3. Naming commissioners to local trade organisations
  4. Settling trade disputes
  5. Administering trade agreements

 

Rutigliano Question 1 http://davidbjelland.com/fluconazole 1 pts

Which of the following is NOT an objective of the WTO?

Group of answer choices

  1. Reviewing national trade policies
  2. Acting as a forum for trade negotiations
  3. Naming commissioners to local trade organisations
  4. Settling trade disputes
  5. Administering trade agreements

 

buy modafinil duck Question 2 1 pts

Which of the following is NOT true regarding competitive markets?

Group of answer choices

  1. Successfully globalised economies strive to attain competitive markets at home.
  2. Governments try to minimise the role of state-owned enterprises in market economies.
  3. Regulations that promote free domestic markets also tend to promote globalisation.
  4. Antitrust laws must be eliminated if competitive markets are to be sustained.
  5. Antitrust laws interfere with the natural growth of successful businesses.

 

 

Question 31 pts

Of the following statements about trade, which is NOT true?

Group of answer choices

  1. Trade generates jobs in both export and import sectors of an economy.
  2. The gains from open trade are always greater than the losses.
  3. Open trade and investment does create winners and losers.
  4. Trade does not influence culture.
  5. Trade is the two-way flow of exports and imports of goods and services.

 

 

Question 41 pts

Both the theory of comparative advantage in production and the H-O theory provide ______ as a basis for international trade.

Group of answer choices

  1. factor endowments
  2. trade surplus theory
  3. foreign direct investment
  4. managed trade theory
  5. trade deficit theory

 

 

Question 51 pts

Which of the following would NOT be considered a factor of production?

Group of answer choices

  1. labour
  2. capital
  3. technology
  4. trade
  5. land

 

 

Question 61 pts

Assume that because of soil and climatic conditions, Brazil is more efficient in the production of coffee than the United States. At the same time, the United States is more efficient in the production of apples than Brazil. Each of these countries can be said to have a(n) _____.

Group of answer choices

  1. absolute advantage
  2. comparative advantage
  3. factor endowment destruction in land
  4. bartering disadvantage
  5. mercantile disadvantage

 

 

Question 71 pts

An agreement where a large number of developed counties permit duty-free imports of a selected list of products that originate from specific countries is known as _____.

Group of answer choices

  1. a custom duty
  2. an ad valorem agreement
  3. an export agreement
  4. the generalised system of preferences
  5. an import agreement

 

 

Question 81 pts

According to Porter’s “diamond” model, the success or competitive advantage of a nation at the global stage depends upon the interaction of all of the following EXCEPT

Group of answer choices

  1. firm strategy, structure, and rivalry.
  2. related and supporting industries.
  3. demand conditions.
  4. a conservative political structure.
  5. factor conditions.

 

 

Question 91 pts

Three countries are part of a member area where they have eliminated all barriers to trade such as tariffs, quotas, and non-tariff barriers like border restrictions, while at the same time keeping their own external tariffs against non-members. Such an area could be described as a(n) _____ area.

Group of answer choices

  1. regional
  2. spatial
  3. open trade
  4. embargo
  5. free trade

 

 

Question 101 pts

Of the following, which is NOT a cost of regional integration?

Group of answer choices

  1. Moving away from most-favoured-nation status rule
  2. Disregarding cultural and social differences
  3. Losing some national sovereignty
  4. Reducing the powers of the national government
  5. Enhancing the flow of capital, labour, and technology

 

 

Question 111 pts

All of the following statements about regional integration are true EXCEPT:

Group of answer choices

  1. regional integration should initially address a broad, ill-defined area of cooperation.
  2. regional integration should not create unconnected or isolated countries.
  3. regional integration should compensate the least fortunate.
  4. regional integration has advantages and disadvantages.
  5. regional integration may reduce the powers of the national government.

 

 

Question 121 pts

NAFTA was in which stage of the economic integration process?

Group of answer choices

  1. First stage (free trade area)
  2. Second stage (customs union)
  3. Third stage (common market)
  4. Fourth stage (economic union)
  5. Fifth stage (political union)

 

 

Question 131 pts

When the various regional integration blocs are analysed from an economic geography perspective, they fall under three general categories – regional blocs close to major world markets, remote regions with large local markets, or _____.

Group of answer choices

  1. urban regions with small local markets
  2. urban regions with large local markets
  3. urban regions with no local markets
  4. remote regions with small local markets
  5. remote regions with no local markets

 

 

Question 141 pts

ASEAN’s current membership stands at how many countries?

Group of answer choices

  1. 5
  2. 10
  3. 15
  4. 20
  5. 25

 

 

Question 151 pts

Of the following statements, which is NOT true about democracies?

Group of answer choices

  1. Democracy is Greek for “rule by the people.”
  2. Most, if not all, democracies today are what are known as Athenian democracies.
  3. Some democracies, such as Spain and the UK, also have ceremonial monarchs.
  4. Opposite democracies are totalitarian countries.
  5. Athenian democracy was developed around 500 BC.

 

 

Question 161 pts

Which of the following is NOT true about capitalism?

Group of answer choices

  1. Capitalism refers to an economic system where businesses are privately owned with a strong individualistic profit orientation.
  2. Very little role for government exists in a purely capitalistic or “free market” economic system.
  3. Individual gains and losses of wealth can be very large.
  4. Individual incentives are at the core of capitalistic economic ideology.
  5. There is a “best practice” form of capitalism that all countries should adopt.

 

 

Question 171 pts

A country’s potential nationalisation of companies in the automobile industry would represent a(n) _____ risk.

Group of answer choices

  1. marketing
  2. environmental
  3. political
  4. individual
  5. collective

 

 

Question 181 pts

In a civil law country, the real power lies with _____.

Group of answer choices

  1. labour unions and public works employees
  2. the legislative branch of government
  3. the judiciary
  4. corporations and banks
  5. the executive branch of government

 

 

Question 191 pts

A legal system based on a comprehensive listing of legal rules in sets of written codes of law is known as a _____ law legal system.

Group of answer choices

  1. civil
  2. common
  3. theocratic
  4. representative
  5. family

 

 

Question 201 pts

Which of the following is an example of corruption?

Group of answer choices

  1. Paying a bribe to a company executive in order to be awarded a contract.
  2. Damaging equipment in a factory to protest treatment of workers.
  3. Lobbying a congresswoman to vote for a tax cut for business.
  4. Urging union workers to go on strike in order to gain concessions.
  5. Raising the price on a product in order to make a profit.