INTB 3080 Exam 2 Study Guide with Complete Solutions
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Course
2024/2025
Institution
2024/2025
INTB 3080 Exam 2 Study Guide with
Complete Solutions
Mercantilism, as advocated in the 16th and 17th centuries, believed that countries
should simultaneously encourage both imports and exports. - Answer-False
Largely discredited and primitive, mercantilism still influences the trade policies of...
mover advantage, even if that means several years of losses before a new venture
becomes profitable. - Answer✔✔-True
The new trade theory suggests that a country may predominate in the export of a good
simply because it was lucky enough to have one or more pioneering firms to produce
that good. - Answer✔✔-True
Climate and natural resource endowments explain all of the following happening,
EXCEPT: - Answer✔✔-Switzerland exporting watches.
The difference in growth rates between Ghana and South Korea since 1970 can be
attributed to - Answer✔✔-Both countries' attitudes towards international trade
Ghana's anti trade policy destroyed the Ghanaian economy because farmers -
Answer✔✔-Switched to the production of subsistence food stuffs.
Tariffs are the instrument that the GATT and WTO have been most successful in
limiting. - Answer✔✔-True
In recent decades, a fall in subsidies, quotas, and voluntary export restraints has been
accompanied by a corresponding fall in nontariff barriers - Answer✔✔-False
Ad valorem tariffs reduce the cost of imported products relative to domestic products. -
Answer✔✔-False
Japan has a long history of supporting inefficient domestic producers with farm
subsidies. - Answer✔✔-True
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