Which of the following was NOT a result of import-substituting industrialization? O It showed that the infant-industry argument is universally valid. O It increased income inequality and unemployment. O It led to an inefficient scale of production. O It produced high rates of protection.
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- All of the following are main economic aims of governments EXCEPT O a. Low and stable inflation O b. Pricing decisions of firms OC.. Stable interest rates O d. Economic growthWhich of the following statements, in the context of U.S. exports, is ru? O A bulk of U.S. exports to developing nations comprise of perishable commodities. O Most US. exports are produced in high-wage industries. O The US. mainly exports labor intensive goods. O The US. exports products produced in the low wage Industries. O Primary products account for the largest share of U.S. exports to developed nations. D Question 21 Any terms of trade within the limits set by domestic opportinity costs will be mutually harmful, becuse each country trie to puh the other as close to the limits of the t O ue O Falbe D Question 22 The limits of the terma of trade are determined by the O diribution costs in each county O umencs echange a batween the trading partners O ock of teignethnge inh coury Oeuntv concounty OAere ol cost l pni gtheIn 38 low-income and emerging economies with GDP per capita below $25,000 tracked by World Bank, the induced terms of trade movements accounted for fluctuations on average for all those countries. O 20 percent of GDP O 40 percent of GDP O 30 percent of GDP O 10 percent of GDP
- How has your current employer or any previousemployer been affected by globalization? Forinstance, does your company compete with lower-costimports? (If you don’t have any relevant workexperience, ask a friend or family member.)What are some examples of innovative products that have disrupted their industries for the better?The academic interest on Import Substitution policies declined considerably sincte the 1980s because .......... please select one or more : a) The perceived failures of the import substitution policies b) Trade liberalisation policies that have been adopted and clearly failed in many low income countries c) The ideological shift since the 1980s d) The policies of the World Bank, IMF and WTO
- Is the statement true or false? "The existence of regional economic integrations is well aligned with the principle of non-discrimination of the WTO"International factor movements can sometirmes substitute for trade, so it is not surprising that international migration of labour is similar in its causes and effects to intemational trade. Labour moves from countries where it is abundant to countries where it is scarce. This movement raises total world output, but it also generates strong income distribution effects, so that some groups are hurt as a result. This movement can be illustrated by on what was happening in the United States and Mexico. Studies of the effects of immigration into the United States from Mexico tend to find that the big winners are the immigrants themselves. QI: Explain the effects of this situation to the following five different groups of people: a) Workers who were originally in the United States b) American landowners c) Workers who stay in Mexico d) Mexican landowners e) The workers who do moveDetermine whether the following policies and programs support a political environment that promotes economic growth and development in less- developed countries (LDCs). For those that help promote economic growth and development in LDCs, classify each policy or program into one of the following categories: law and order, infrastructure, or international trade. Policies and Programs Efficient transportation systems Openness to international trade Clear private property rights Tariffs and quotas Support economic growth Stable Legal and Political Systems Infrastructure International Trade Inhibit economic growth O O О о OO O О о о
- Service sector is growing because of * an increase in the level of competitivness O an increase in the level of global competition O an increase in the level of international migration O all answers are correctWhich of the following BEST defines maquiladoras? A. Export-assembly plants B. Taxes imposed on products that will be dumped OC. Transfer payments made directly to foreign firms D. Tariffs imposed on products imported into a country O E. Areas within a country that receive imported goods for assembly Since the 1970s, Singapore, Hong Kong, Taiwan, and South Korea have accomplished rapid economic growith by following O A. centralized economic planning B. normal trade relations c. import authorization efforts D. an export-led development model E. the Japanese miracleRegional trade agreements include countries in a region that join together for economic growth and trade. O True O False