POLI 190 CH 4, 7

Which of the following bodies is sanctioned to adjudicate trade disagreements between WTO members

Dispute settlement panel

For which region of the world do agricultural exports constitute the largest share of its overall merchandise exports

South and Central America

Which country or region has the highest share of global merchandise exports

The European Union

Which country is the world's largest exporter of commercial services?

The United Kingdom

According to dependency theory, why do LDCs remain underdeveloped?

Their dependency on industrialized nations prevents them from acquiring capital and technology for their own development

The process by which inherently unstable opposing economic forces and counterforces lead to crisis, revolution, and to the next stage of history is called

a dialectical process

a measure that restricts the quantity. of an item that can be brought into a country is called

an import quota

which of the following most closely resembles Marx's definition of class?

class is determined by ownership of capital, which can be mixed with. labor to form a commodity that is profitably sold

Lenin believed that capitalism was able to postpone its crisis by

exploiting. less developed countries through. imperialism

Which of the following statements is correct

in 2014 approximately 20 percent of total US post tax income went to the bottom 50 percent of Americans

Which of the following is a basic principle of the GATT?

preferential access

Technically, the United States has a comparative advantage over the European Union. in the production of commercial aircraft if

production of airplanes in the US requires less sacrifice of other goods than would similar airplane production in the EU

The two main components of nondiscrimination in the GATT agreement are

reciprocity and mutuality

How does neoimperialism differ from classical imperialism?

states no longer need to occupy other countries in order to exploit them

Negotiations in the Uruguay and Doha Rounds were each organized as a "single undertaking", meaning that

the agreed goal of the negotiations was a single tariff rate for imported manufactured goods, agricultural goods, and services

which of the following refers to the privately owned assets sued to proceed the commodities in an economy?

the means of production

The basic idea behind structuralism is that

the structure of the international political economy—namely capitalism—conditions its outcome.

A mercantilist would most likely agree with which oft he following statements about trade?

trade rules should be grounded in the principle of most favored nation treatment

According to the theory of comparative advantage, mutually advantageous international trade is based on differences in

which good a particular nation can produce at the lowest cost