International Economics 15th Edition by Robert Carbaugh

International Economics 15th Edition by Robert Carbaugh

ISBN-10:1285854357 ; ISBN-13:978-1285854359

Chapter 07

1. Which of the subsequent simply is not a significant factor that encourages rising nations to kind worldwide commodity agreements?
a. Inelastic commodity present schedules
b. Inelastic commodity demand schedules
c. Export markets which can be usually unstable
d. Secular will improve of their phrases of commerce
ANSWER: d
POINTS: 1
DIFFICULTY: Common
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: Commerce Problems with the Rising Nations
KEYWORDS: BLOOM’S: Info

2. International commodity agreements do not:
a. Embody consuming and producing nations who want market stability
b. Levy export cutbacks with a view to offset rising commodity prices
c. Benefit from buffer shares to generate commodity worth stability
d. Improve the supply of commodities to cease rising prices
ANSWER: b
POINTS: 1
DIFFICULTY: Common
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: Commerce Problems with the Rising Nations
KEYWORDS: BLOOM’S: Comprehension

3. Regarding the worth elasticities of present and demand for commodities, empirical estimates counsel that almost all commodities have:
a. Inelastic present schedules and inelastic demand schedules
b. Inelastic present schedules and elastic demand schedules
c. Elastic present schedules and inelastic demand schedules
d. Elastic present schedules and elastic demand schedules
ANSWER: a
POINTS: 1
DIFFICULTY: Common
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: Commerce Problems with the Rising Nations
KEYWORDS: BLOOM’S: Comprehension

4. If the demand schedule for bauxite is relatively inelastic to price changes, an increase throughout the present schedule of bauxite will set off a:
a. Decrease in worth and a decrease in product sales earnings
b. Decrease in worth and an increase in product sales earnings
c. Improve in worth and a decrease in product sales earnings
d. Improve in worth and an increase in product sales earnings
ANSWER: a
POINTS: 1
DIFFICULTY: Troublesome
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: Commerce Problems with the Rising Nations
KEYWORDS: BLOOM’S: Comprehension

5. A important goal of worldwide commodity agreements has been the:
a. Maximization of members’ revenues by means of export taxes
b. Nationalization of corporations working in member nations
c. Adoption of tariff security in the direction of industrialized nation sellers
d. Moderation of commodity worth fluctuations when markets are unstable
ANSWER: d
POINTS: 1
DIFFICULTY: Common
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: Commerce Problems with the Rising Nations
KEYWORDS: BLOOM’S: Comprehension

6. Which gadget has the International Tin Settlement utilized as a way of stabilizing tin prices?
a. Multilateral contracts
b. Export subsidies
c. Buffer shares
d. Export tariffs
ANSWER: c
POINTS: 1
DIFFICULTY: Common
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: Stabilizing Main-Product Prices
KEYWORDS: BLOOM’S: Comprehension

7. Which method has not often been used by the worldwide commodity agreements to stabilize commodity prices?
a. Manufacturing quotas utilized to the extent of commodity output
b. Buffer stock preparations amongst producing nations
c. Export restrictions utilized to worldwide product sales of commodities
d. Measures to nationalize foreign-owned manufacturing operations
ANSWER: d
POINTS: 1
DIFFICULTY: Common
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: Stabilizing Main-Product Prices
KEYWORDS: BLOOM’S: Comprehension

8. The OPEC nations all through the Seventies manifested their market vitality by utilizing:
a. Export tariffs levied for earnings capabilities
b. Export tariffs levied for shielding capabilities
c. Import tariffs levied for shielding capabilities
d. Import tariffs levied for earnings capabilities
ANSWER: a
POINTS: 1
DIFFICULTY: Common
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: The OPEC Oil Cartel
KEYWORDS: BLOOM’S: Info

9. One concern that has prevented the formation of cartels for producers of commodities is that:
a. The demand for commodities tends to be worth inelastic
b. Substitute merchandise exist for lots of commodities
c. Commodity produces have been ready to dominate world markets
d. Manufacturing of most commodities is capital intensive
ANSWER: b
POINTS: 1
DIFFICULTY: Troublesome
NATIONAL STANDARDS: United States – BPROG: Reflective Contemplating – BPROG: Analysis
STATE STANDARDS: United States – PA – DESC: International Commerce and Fi – DESC: International Commerce and Finance
TOPICS: The OPEC Oil Cartel
KEYWORDS: BLOOM’S: Comprehension

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