EconGlow Institute

Solution 👇👇

Solution 👇👇

All of the following are trade problems of developing countries except a. unstable export markets b. improving terms of trade c. limited access to the markets of industrial countries d. highly elastic demand curves for their products Ans:B

To be considered a good candidate for an export cartel, a commodity should: a. be a manufactured good b. be a primary product c. have a low price elasticity of supply d. have a high price elasticity of demand Ans;C

For the oil-importing countries, the increases in oil prices in 1970s and early 2000s contributed to all of the following except: a. balance of trade deficits b. price inflation c. constrained economic growth d. improving terms of trade Ans: B

A widely used indicator to differentiate developed countries from developing countries is: a. international trade per capita b. real income per capita c. unemployment per capita d. calories per capita Ans:B

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 substitution c. international commodity agreements d. multilateral contracts Ans:A

Economic sanctions a. are prohibited by the World Trade Organization b. affect international trade but not international financial flows c. involve restrictions on imports, but not exports d. involve restrictions in imports, exports, and or financial flows Ans:D