International Economics 14th Edition by Robert Carbaugh

International Economics 14th Edition by Robert Carbaugh

ISBN-10:‎1133947727 ; ISBN-13:978-1133947721

CHAPTER 6—TRADE REGULATIONS AND INDUSTRIAL POLICIES

MULTIPLE CHOICE

1. The World Commerce Group was established by the ____ of multilateral commerce negotiations:
a. Kennedy Spherical
b. Tokyo Spherical
c. Uruguay Spherical
d. Clinton Spherical

ANS: C PTS: 1 DIF: Easy
NAT: BPROG: Reflective Pondering TOP: World Commerce Group
KEY: BLOOM’S: Data

2. Beneath U.S. enterprise protection, the escape clause ends in:
a. Quick-term quotas granted to firms injured by import opponents
b. Tariffs that offset export subsidies granted to worldwide producers
c. Tax advantages extended to minority-owned exporting firms
d. Duties which offset enterprise dumping on the part of worldwide firms

ANS: A PTS: 1 DIF: Easy
NAT: BPROG: Reflective Pondering
TOP: Safeguards (The Escape Clause): Emerg. Prot. for I KEY: BLOOM’S: Data

3. Adjustment assist is usually used to assist:
a. In retraining workers displaced by imports
b. In retraining workers displaced by exports
c. International firms injured by our quotas
d. International firms injured by our tariffs

ANS: A PTS: 1 DIF: Easy
NAT: BPROG: Reflective Pondering
TOP: Safeguards (The Escape Clause): Emerg. Prot. for I KEY: BLOOM’S: Data

4. The Export-Import Monetary establishment of america encourages American firms to advertise overseas by providing direct loans and mortgage ensures to worldwide purchasers of American gadgets. To American firms, this represents a:
a. Explicit subsidy
b. Advert valorem subsidy
c. Residence subsidy
d. Export subsidy

ANS: D PTS: 1 DIF: Common
NAT: BPROG: Reflective Pondering TOP: Industrial Protection of the US
KEY: BLOOM’S: Comprehension

5. The Smoot-Hawley Tariff Act of 1930 has often been associated to:
a. Falling tariffs
b. Will improve throughout the amount of commerce
c. Intensifying the worldwide melancholy
d. Efforts to liberalize nontariff commerce limitations

ANS: C PTS: 1 DIF: Common
NAT: BPROG: Reflective Pondering TOP: US Tariff Insurance coverage insurance policies Sooner than 1930
KEY: BLOOM’S: Comprehension

6. A commerce protection designed to alleviate some dwelling monetary downside by exporting it to worldwide worldwide places known as a (an):
a. International dumping protection
b. Commerce adjustment assist protection
c. Most-favored-nation protection
d. Beggar-thy-neighbor protection

ANS: D PTS: 1 DIF: Common
NAT: BPROG: Reflective Pondering TOP: Industrial Protection of the US
KEY: BLOOM’S: Data

7. Beneath U.S. enterprise protection, which clause permits the modification of a commerce liberalization settlement on a brief lived basis if crucial harm occurs to dwelling producers on account of the settlement?
a. Adjustment assist clause
b. Escape clause
c. Most-favored-nation clause
d. Reciprocal-trade clause

ANS: B PTS: 1 DIF: Common
NAT: BPROG: Reflective Pondering TOP: Industrial Protection of the US
KEY: BLOOM’S: Data

8. Which protection shows the notion that if society enjoys optimistic points due to elevated effectivity stemming from commerce liberalization, some sort of compensation must be provided to those who are rapidly hurt by import opponents?
a. Countervailing duties
b. Commerce adjustment assist
c. Residence subsidies
d. Most-favored-nation customary

ANS: B PTS: 1 DIF: Common
NAT: BPROG: Reflective Pondering TOP: Commerce Adjustment Assist
KEY: BLOOM’S: Data

9. The Uruguay Spherical of Multilateral Commerce Negotiations achieved the whole following moreover:
a. Positioned essential emphasis on nontariff commerce limitations
b. Is estimated to yield modest optimistic points in world output and employment
c. Achieved cuts in tariffs nonetheless not in nontariff commerce limitations
d. Abolished all limitations to commerce in agricultural merchandise

ANS: C PTS: 1 DIF: Common
NAT: BPROG: Reflective Pondering TOP: Regular Settlement on Tariffs and Commerce
KEY: BLOOM’S: Data

10. The Regular Settlement on Tariffs and Commerce and its successor, the World Commerce Group, have resulted in:
a. Termination of export subsidies utilized to manufactured gadgets
b. Termination of import tariffs utilized to manufactured gadgets
c. Encouragement of beggar-thy-neighbor insurance coverage insurance policies
d. Reductions in commerce limitations by means of multilateral negotiations

ANS: D PTS: 1 DIF: Common
NAT: BPROG: Reflective Pondering TOP: Regular Settlement on Tariffs and Commerce
KEY: BLOOM’S: Data

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