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- Which 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 miracleCan food security include the importation of food? a. Yes, if the population is willing to pay higher prices for exotic foods. b. No, the Communist legacy requires modern countries to reject international food trade. c. No, self-sufficiency is always preferable to importing food. d. Yes, if a country has a highly competitive global economy and can afford to import food.4
- All of the following are advantages of free trade except: a. Free trade helps keep interest rates high b. The global market consists of more than 7 billion potential customers c. Global competition helps keep prices low. D.. Increase productivity in areas of comparative advantageQ3A government assists firms in certain industries so that rival foreign firms will not prevent them from growing into sustainable businesses. Which argument is being advocated? a. infant industry b. free trade c. national security d. consumer protection
- 5. The following is a list of other factors that can make trade beneficial (i) Trade is an engine of growth. (ii) Non-economic factors. (iii) Increased competition. (iv) Differences in demand. (v) Decreasing costs. Into which one of these five categories do the following examples fit? (a) By specialising in certain export, the country may become increasingly skilled in their production. (b) Free trade between countries may encourage closer political co-operation (c) When the rest-of-the-world economy expands, this will increase the demand for a country's exports and also raise its export prices relative to import prices. (d) Consumer tastes for products differ between different countries. (e) Allowing imports freely into a country may stimulate domestic producers to be more efficient.10 specialization increases productivity a De creasing revenue b increa my marginal returns increating opportunity costs d. increasing marginal с output.None
- Why are international negotiations important in order to reduce tariff rates worldwide? A. Special-interest groups cannot affect international negotiations. B. Large countries can impose policy restrictions on smaller countries. C. They help avoid trade wars. D. The world as a whole gains from free trade.Of the following countries, which is the most dependent on imported oil? a. Japan b. The United States c. England d. Nigeria e. VenezuelaAfter the American Revolution, most Indigenous people: a. recognized the U.S. as an independent country O b. refused to recognize the U.S. as an independent country c. formed alliances with the U.S. O d. declared war on the U.S. O O