MCQOPTIONS
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MCQOPTIONS
This section includes 57 Mcqs, each offering curated multiple-choice questions to sharpen your Economics Mcqs knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
Which industrialization policy have developing countries used which places emphasis on the comparative advantage principle as a guide to resource allocation ? |
| A. | export promotion |
| B. | import promotion |
| C. | international commodity agreements |
| D. | multilateral contracts |
| Answer» B. import promotion | |
| 52. |
To stabilize the prices of primary products international commodity agreements have utilized all of the following except ? |
| A. | tariff-rate quotas applied to imported goods |
| B. | production and export controls |
| C. | buffer stocks |
| D. | multilateral contracts |
| Answer» B. production and export controls | |
| 53. |
Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide ? |
| A. | mixed evidence that does not substantiate the deterioration hypothesis |
| B. | overwhelming support for the deterioration hypothesis |
| C. | overwhelming opposition to the deterioration hypothesis |
| D. | None of the above |
| Answer» B. overwhelming support for the deterioration hypothesis | |
| 54. |
The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ? |
| A. | normal trade relation status |
| B. | most favored nation status |
| C. | offshore assembly provisions |
| D. | Generalized System of Preferences |
| Answer» E. | |
| 55. |
To be considered a a good candidate for an export cartel, a commodity should ? |
| A. | be a manufactured goods |
| B. | be a primary product |
| C. | have high price elasticity of supply |
| D. | have a low price elasticity of demand |
| Answer» E. | |
| 56. |
Concerning tariff policy, the United States does not charge? |
| A. | lower tariff rates on goods from nations with normal trade relation status |
| B. | lower tariff rates on goods from nations with most favored nation status |
| C. | low or zero tariffs on goods from certain developing countries |
| D. | identical tariff rates in products from all countries of the world |
| Answer» E. | |
| 57. |
Most of developing-country exports consist of ? |
| A. | primary products such as tin and bauxite |
| B. | intermediate products |
| C. | labor-intensive agricultural products |
| D. | labor-intensive manufacturing products |
| Answer» B. intermediate products | |