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International Trade 1st Edition By John Mclaren – Test Bank

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  • ISBN-10 ‏ : ‎ 0470408790
  • ISBN-13 ‏ : ‎ 978-0470408797

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SKU:tb1002543

International Trade 1st Edition By John Mclaren – Test Bank

McLaren “International Trade”
Multiple Choice
Chapter 9

 

1. According to a citation in the textbook, between 1864-1913, the United States was
A. The second-fastest growing economy after Britain
B. The most free-trading economy in the world
C. The most protectionist country in the world
D. The most protectionist country after Germany

Answer: A

 

2. The infant-industry argument implies that
A. Developing countries should export goods made in small scale industries
B. Developing countries should produce goods for which they need protection now but will be internationally competitive in the future
C. Developing countries should produce goods which are new because industrialized countries are already good at producing the older goods
D. Developing countries should follow free trade

Answer: B

 

3. The infant-industry argument implies that developing countries should
A. Follow free trade
B. Export goods made in small scale industries
C. Produce goods which are new because industrialized countries are already good at producing the older goods
D. Produce goods for which they have comparative disadvantage now but will have comparative advantage in the future

Answer: D

 

4. The opposite of “export-led growth” is
A. Import-led trade
B. Import-Substitution Industrialization
C. Free trade
D. An optimum tariff policy

Answer: B

 

5. Which country or countries followed a free-trade policy during the 1960s, 1970s, and the 1980s?
A. Hong Kong
B. Argentina
C. Singapore
D. Both Hong Kong and Singapore

Answer: A

 

6. Which out of the following was the strategy for development followed by Singapore in the 1960s, 1970s, and the 1980s?
A. An across-the board ISI policy
B. Targeting those industries which were already exporting and providing them with export subsidies
C. Targeting those industries in which the country was expected to have export potential in the future, and building them up by ISI policies
D. A laissez faire policy toward foreign trade

Answer: C

 

7. Which out of the following was the strategy for development followed by Argentina in the 1960s, 1970s, and the 1980s?
A. Targeting those industries in which the country was expected to have export potential in the future, and building them up by ISI policies
B. A laissez faire policy toward foreign trade
C. Targeting those industries which were already exporting and providing them with export subsidies
D. An across-the board ISI policy

Answer: D

 

8. Which out of the following was the strategy for development followed by Hong Kong in the 1960s, 1970s, and the 1980s?
A. A laissez faire policy toward foreign trade
B. Targeting those industries in which the country was expected to have export potential in the future, and building them up by ISI policies
C. An across-the board ISI policy
D. Targeting those industries which were already exporting and providing them with export subsidies

Answer: A

 

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