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A) Barriers to trade will go down substantially. B) Some restrictions will go up while others will go down. C) Barriers to trade will go up substantially. D) Countries will use different means of protection, but they will maintain essentially the same level of protection. Answer: B Diff: 2Page Ref: 275 Skill: Application Objective: STUDY QUESTION 7.16: According to the "Looking to the Future" section, what protectionist practices and effects might we expect? AACSB: Analytic Skills 63) Every time countries enter a new trading agreement, there is a possibility that new ________. A) theories develop for protectionism B) factor endowments cause shifts in trade C) optimum locations for production develop D) activities will cause service trade to grow more rapidly than merchandise trade Answer: C Diff: 2Page Ref: 275 Skill:Concept Objective: STUDY QUESTION
7.16: According to the "Looking to the Future" section, what
protectionist practices and effects might we expect? 64) Which of the following is NOT causing greater complexity in the regulation of trade? A) growth in export tariffs B) services available over the Internet C) heightened concern about terrorism and product safety D) development of new products that must be classified Answer: A Diff: 2Page Ref: 275 Skill: Concept Objective: STUDY QUESTION
7.16: According to the "Looking to the Future" section, what
protectionist practices and effects might we expect? 65) The U.S. catfish industry petitioned the U.S. government for increased taxes on imported Vietnamese fish, claiming that the fish were being sold below the cost of production. The U.S. catfish industry was accusing the Vietnamese fish industry of ________. A) dumping B) using an embargo C) subsidizing D) using offsets Answer: A Diff: 2Page Ref: 263 Skill: Application Objective: STUDY QUESTION 7.17: What lessons are illustrated by the opening and closing cases of Chapter 7? AACSB: Reflective Thinking 66) The U.S. catfish industry successfully petitioned the U.S. government to require that catfish varieties imported from Vietnam be labeled as tra, basa, or pangasius. This is an example of which of the following? A) an embargo B) a tariff C) a nontariff barrier D) a direct price influence Answer: C Diff: 2Page Ref: 272 Skill: Application Objective: STUDY QUESTION 7.17: What lessons are illustrated by the opening and closing cases of Chapter 7? AACSB: Reflective Thinking 67) People who argue for lifting the U.S. trade embargo with Cuba claim all the following EXCEPT which one? A) The embargo has not achieved its purpose of removing Castro from power. B) Many leaders in the United States favor normalization of U.S.-Cuban trade. C) Increased exposure to the United States would be a more effective force of change. D) Cuba has largely become a market economy already. Answer: D Diff: 2Page Ref: 278-279 Skill: Concept Objective: STUDY QUESTION
7.17: What lessons are illustrated by the opening and closing cases
of Chapter 7? 68) People who argue for keeping the U.S. trade embargo with Cuba claim all the following EXCEPT which one? A) There is not much economic potential from trade given Cuba's small population and low per capita income. B) Removal of the embargo will cause much more Cuban immigration to the United States. C) If the Cuban economy is weakened just a bit more, Castro cannot sustain his power. D) There will be a backlash among countries supplying such commodities as sugar to the United States if the U.S. buys them from Cuba instead. Answer: B Diff: 2Page Ref: 276, 278 Skill: Concept Objective: STUDY QUESTION
7.17: What lessons are illustrated by the opening and closing cases
of Chapter 7? 69) The term protectionism, when applied to international trade, refers to governmental restrictions and incentives to affect trade flows. Answer: TRUE Diff: 1Page Ref: 256 Skill: Concept Objective: STUDY QUESTION
7.1: What is trade protectionism, and why is an understanding of it
useful for managers? 70) Trade protectionism may make it more difficult for a company to buy what it needs. Answer: TRUE Diff: 1Page Ref: 257 Skill: Concept Objective: STUDY QUESTION
7.1: What is trade protectionism, and why is an understanding of it
useful for managers? 71) The group most likely to become involved in disputes concerning trade protectionism is consumers. Answer: FALSE Diff: 2Page Ref: 257 Skill: Application Objective: STUDY QUESTION 7.2: What are the conflicting results of trade policies? |