POLI 190 Quiz #2 Study Guide: CH 7,8,10,12

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 bodies is sanctions to adjudicate trade disagreements between WTO members?

Dispute settlement panel

Finalization is closely associated with each of the following except

Higher levels of R&D spending over the long term

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

Nothing was agreed until everything was agreed

Which of the following policies would not be considered to bar mercantilist?

Optional Practical Training (OPT)

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

The European Union

One important trend of recent years has been the growth of. regional trade blocs. Which of the following is not a regional trade bloc?

The G20

Which statement about copyrights is correct?

The TRIPS agreement stipulates a minimum time period for which member states must give protection to them

This event signaled the beginning of the Asian financial crisis in July of 1997

When the Thai government could no longer support the 25 to 1 value of the Thai baht to the U.S. dollar

Which of the following was not a characteristic of the fixed exchange rate system of the finance and monetary structure?

Currency values were allowed to adjust up or down freely according to supply and demand conditions in the market for the U.S. dollar

Which candidate for prime minister of Greece promised not to agree to Troika conditions for a third Greek loan, but then did agree to those conditions once he was elected?

Alexis Tsipras

Since 1944, the role of the IMP in the monetary and finance structure has been

All of the above

The United States states seeks to prevent foreign countries from accessing the U.S. advanced technology by

All of the above

Which of the following is a reason why many states resist significant liberalization of trade in services?

All of the above

Which of the following is an example of efforts by developing countries to advance their interests in the face of strong IPRs?

All of the above

IPRs are an important issue for developing countries because

All of these are important reasons

What is "bitter medicine"

Another name for austerity policies in Europe

Which Troika policy generated massive protests and demonstrations in Greece and other European countries because it imposed economic hardship on ordinary people?

Austerity

A toxic security is another name for

Bank mortgages and investments that lost a good deal of their value during the global financial crisis

Which of the following did the Dodd-Frank Act require?

Banks' holding of more capital and collateral in reserve

Which of the following statements about exchange rates is incorrect?

Between 2000 and 2008, the U.S. dollar declined in value relative to the euro and renminbi

Which leader complained that by holding (unofficially) weak U.S. dollars, his country was helping pay for the unpopular Vietnam War?

Charles de Gaulle of France

Most economic experts argue that the fundamental problem with the EMU is

Failure to fulfill the requirements of an optimal currency union

A top government minister in which country said that Greece should leave the EU?

Germany

Balaam and Dillman conclude that which of the following states must assume more hegemonic responsibilities if European states are to continue to cooperate. to solve common problems

Germany

Which of the following do Balaam and Dillman posit is an important trend in the knowledge structure over the last twenty years?

Global profits are increasingly shifting to those who own knowledge and control distribution of knowledge - intensive goods and services

Which treaty formally established the "European Union" the European Central Bank, and the Economic and Monetary union in 1992?

Maastricht Treaty

Which British Prime Minister put the damper on EU integration in the early 1980s by emphasizing neoliberal economic policies?

Margaret Thatcher

The two main components of nondiscrimination in the GATT agreement are

National treatment and most favored nation treatment

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

Nondiscrimination

A mercantilist would most likely agree with which of the following statements about trade?

None of the above

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

Production of airplanes in the U.S. requires less sacrifice of other goods than would similar airplane production in the EU

The policy of the U.S. Federal Reserve to increase the money supply by purchasing hundreds of billions of dollars in bonds and mortgage backed securities is called

Quantitative easing

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

South and Central America

Which of the following statements would an economic liberal probably agree with?

Strong IPRs create incentives for creativity and innovation

Which of the following is a multilateral trade deal being negotiated between he EU and the United States?

TTIP

Which of the following was required of the UK before negotiations could begin with the UK for terms related to its future relationship to the EU

The UK had to apply to leave the EU under Article 50 of TEU

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

The United States

Which statement is inaccurate?

The United States advocate for information sovereignty

Which of the following statements is correct?

The United States sounds more money on R&D each year than any other OECD country

Which of the following institutions is not a member of Troika?

The WTO

Which indicator is most important when it comes to determining the balance of payments and whether or not a nation is going into debt?

The current account

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

The relative cost of producing a good in different countries

Which of the following statements about the financial crisis from 2007 to 2009 is incorrect?

Under Obama, the U.S. Congress passed a $2 trillion stimulus spending package

Who suggested after World War II that Western Europe should forge a "United States" of Europe?

Winston Churchill

Place these four trade related events in their proper chronological order: (a) TPP negotiations; (b) Uruguay Round; (c) Tokyo Round; (d) Doha round

c,b,d,a

Which term refers to a process in which investors quickly shift their funds out of a nation in search of a "safe harbor" for their investments

capital flight