PA 315 Final study guide

Powerful Essays
Question 1
Which of the following arguments states that a country should restrict trade to protect industries that provide social usefulness, such as domestic R&D?
Spillover effects
Question 2
World Bank primarily loans money to countries that need short-term credit to shore-up their economies. False
Question 3
One form of protectionism is to place limit on the amount of an incoming product. This is called Import quota
Question 4
Neoliberalism refers to a political movement that espouses economic liberalism as a means of promoting economic development and securing political liberty. True
Question 5
Tariffs, import quotas, and regulatory barriers are forms of protectionism that “unfairly” promote domestic goods in foreign markets. False
Question 6
Which of the following is a measure of income disparity?
Gini index
Question 7
The “reciprocity” principle requires each WTO member apply the same condition on all trade with other WTO members. False Question 8
A major policy advance by neoliberalism is free trade which means the removal of trade barriers, like tariffs, subsidies, and regulatory trade barriers. True
Question 9
A major argument against regional trading blocs is that economic interdependence creates disincentives for political cooperation and increases potential for violent confrontation. False
Question 10
IMF is a development bank that focuses on macroeconomic performance of world economies as well as on macroeconomic and financial sector policy. False
Question 11
According to the lecture, which of the following is NOT a reason to Globalism?
Increment of world population
Question 12
(Economic) neoliberalism tends to promote: All of the above
The demise (destruction) of inefficient industries
An edge for companies and countries rich in capital
Question 13
According to the Video Case “U.S. Farmers/CAFTA,” which of the following groups of people are in

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