Set of flashcards VWL Kapitel 12

Flashcards	30
Language	Deutsch
Category	Politics
Level	University
Created / Updated	26.12.2018 / 18.09.2019
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The ration of a country`s average export price to its average import price is

its absolute advantage

its comparative advantage

its terms of trade

its exchange rate

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its absolute advantage

its comparative advantage

its terms of trade

its exchange rate

According to the Prebish-Singer thesis

demand for primary products has steadily fallen

profits of primary producers have steadily fallen

primary producers terms of trade have steadily fallen

prices of primary products have risen over time

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demand for primary products has steadily fallen

profits of primary producers have steadily fallen

primary producers terms of trade have steadily fallen

prices of primary products have risen over time

The purpose of commodity buffer stocks is

to moderate price fluctuations

to raise commodity prices

to encourage commodity substitution

to guarantee national security

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to moderate price fluctuations

to raise commodity prices

to encourage commodity substitution

to guarantee national security

Developing countries might be unable to respond smoothly to changing international price signals because of

a lack of government regulation

an abundance of skilled labor

inelastic supply curves

limited foreign exchange

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a lack of government regulation

an abundance of skilled labor

inelastic supply curves

limited foreign exchange

Autarchy as used in the text refers to

an economy that does not trade

an economy that trades primary products in exchange for manufactures

developing-country dictatorships

the caste system and related social structures

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an economy that does not trade

an economy that trades primary products in exchange for manufactures

developing-country dictatorships

the caste system and related social structures

Wich of the following is an argument in favor of trade liberalization?

Increased investment

Infant industry

Fluctuating export earnings

Increased government revenue

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Increased investment

Infant industry

Fluctuating export earnings

Increased government revenue

The opening of export markets for primary products can provide employement for previously underutilized land and labor. The term of it is?

vent of surplus

comparative advantage

Prebish-Singer thesis

barter trade

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vent of surplus

comparative advantage

Prebish-Singer thesis

barter trade

Which of the following statements is true?

Larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tends to be less open than developed economies.

Larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tends to be less open than developed economies.

Larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tend to be more open than developed economies.

Larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tend to be more open the developed economies

Larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tends to be less open than developed economies.

Larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tends to be less open than developed economies.

Larger countries (in terms of size) tend to be more open (in terms of larger share of exports in GDP) than smaller countries and developing countries tend to be more open than developed economies.

Larger countries (in terms of size) tend to be less open (in terms of lower share of exports in GDP) than smaller countries and developing countries tend to be more open the developed economies

The dependece on the export of one or two primary products for a majority of the revenue from exports is most severe in countries in

South Asia

East Asia

Sub-Saharan Africa

Latin America

South Asia

East Asia

Sub-Saharan Africa

Latin America

The real price trendline for non-fuel primary commodities from 1960-2005 has been

unchanged

steadily increasing

steadily decreasing

first decreased an than increased

unchanged

steadily increasing

steadily decreasing

first decreased an than increased

The nominal rate of protection shows the extent to which the domestic price of imported goods exceeds

What the price would be without tariffs

The cost of intermediate Inputs

The social oppurtunity costs of the goods

the no-trade equilibrium price

What the price would be without tariffs

The cost of intermediate Inputs

The social oppurtunity costs of the goods

the no-trade equilibrium price

The effective rate of protection is

Value added with protection divided by value added without protection

Value added with protection

Value added without protection

Value added with protection minus value added without protection divided by value added without protection

Value added with protection divided by value added without protection

Value added with protection

Value added without protection

Value added with protection minus value added without protection divided by value added without protection

The average levels of effective protection has exceeded 300 percent for which of the following countries?

Pakistan und Uruguay

Argentina and Brazil

Philippines and Mexico

India and China

Pakistan und Uruguay

Argentina and Brazil

Philippines and Mexico

India and China

The long-run social benefits of infant industry protection are more likely to be realized if

investors believe that tariff barriers are permanent

investors believe that tariff barriers are transitory

tariff barriers increase over time

tariff barriers are replaced with quotas over time

investors believe that tariff barriers are permanent

investors believe that tariff barriers are transitory

tariff barriers increase over time

tariff barriers are replaced with quotas over time

Why is it impossible that all industries in a developing country qualify as infant industries?

You cannot have a comparative advantage in everything

You cannot have an absolute advantage in everything

This would violate International law

This would reduce the terms of trade

You cannot have a comparative advantage in everything

You cannot have an absolute advantage in everything

This would violate International law

This would reduce the terms of trade

Which of the following is not a reason why the prospects for the further expansion of developing county commodity exports is likely to be limited?

Low income elasticities for these products

Low likelihood of development of further synthetic substitutes

Continued agricultural protection despite trade agreements

Declining terms of trade

Low income elasticities for these products

Low likelihood of development of further synthetic substitutes

Continued agricultural protection despite trade agreements

Declining terms of trade

Which of the following is major argument of trade pessimists?

Increased productivity of developed county agriculture

Increased efficiency in industrial use of raw materials

Protectionism against labor-intensive manufactures

All of the above

Increased productivity of developed county agriculture

Increased efficiency in industrial use of raw materials

Protectionism against labor-intensive manufactures

All of the above

Wich of the following is a major argument of trade optimists?

Industrial policy can increase productivity of developing country manufacturing efficiency

New synthetic substitutes are constantly being discovered and improved

Developing country efficiency would improve with trade liberalization

All of the above

Industrial policy can increase productivity of developing country manufacturing efficiency

New synthetic substitutes are constantly being discovered and improved

Developing country efficiency would improve with trade liberalization

All of the above

Which of the following countries provides the best example of a successful import substitution development strategy?

Chile

Taiwan

Argentina

Botswana

Chile

Taiwan

Argentina

Botswana

Which of the following is a nontariff barrier policy tool?

Sanitary regulations

Average duties

Phased liberalization

Ad valorem tax

Sanitary regulations

Average duties

Phased liberalization

Ad valorem tax

Nontariff barriers

decrease foreign exchange earnings

reduce the quantity of goods exported

lower the effective price received for exports

all of the above

decrease foreign exchange earnings

reduce the quantity of goods exported

lower the effective price received for exports

all of the above

The most important role of the World Trade Organization is

to promote market oriented economics policies

to settle trade disputes

to provide development assistance

to help countries choose the appropriate level of a tariff or quota

to promote market oriented economics policies

to settle trade disputes

to provide development assistance

to help countries choose the appropriate level of a tariff or quota

If the equilibrium exchange rate is 15 pesos per dollar and the central bank fixes the exchange rate at 17 pesos per dollar, then we can conclude that the peso is

appreciated

depreciated

overvalued

undervalued

appreciated

depreciated

overvalued

undervalued

In most LDCs the initial target of import substitution is to promote domestic production of

consumer goods

food and other agricultural goods

capital goods

manufactured intermediate goods

consumer goods

food and other agricultural goods

capital goods

manufactured intermediate goods

Which of the following in not an argument in favor of export promotion over import substitution?

International competition compels domestic producers to become more efficient

Exposee to world markets provides greater opportunities to learn new technologies

Producing for export permits greater specialization and economies of scale

Outward-looking development promotes larger firms

International competition compels domestic producers to become more efficient

Exposee to world markets provides greater opportunities to learn new technologies

Producing for export permits greater specialization and economies of scale

Outward-looking development promotes larger firms

VWL Kapitel 12

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