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National Economic Competition: The Traditional Road
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1

The principal economic actors on the world stage according to the perspective of economic nationalists are
A)states.
B)MNCs.
C)the WTO and IMF.
D)transnational labor unions.
2

Which of the following is not an instrument used by governments to restrict trade?
A)tariffs
B)quotas
C)price limits
D)currency devaluations
3

Economic sanctions are likely to be most effective when
A)they aim to change the government.
B)the target state has a united government.
C)the sender and target have minimal trade links.
D)their goals are modest.
4

Countries that derive a large amount of their earnings from methods of production requiring low labor inputs are
A)newly industrialized countries.
B)postindustrial economies.
C)service economies.
D)planned economies.
5

Which country is a member of the Group of Eight (G-8) only on political matters?
A)Italy
B)Japan
C)Russia
D)Canada
6

A country's sale of its exports in foreign markets at below-cost prices is known as
A)capitalism.
B)mercantilism.
C)dumping.
D)comparative advantage.
7

While all countries have income distribution disparities,
A)the gap tends to be larger in the North.
B)the gap in the United States largely resembles that of most LDCs.
C)the size of the gap is largely related to the type of political system.
D)there is a direct correlation between level of education and economic disparities.
8

With respect to primary products, what causes product instability?
A)declining world demand
B)import tariffs and quotas
C)major and unforeseen shifts in the climate or environment affecting supply
D)multilateral lending policies
9

The United Nations recommends that EDCs use what percentage of their GDPs for economic assistance?
A)0.7 percent
B)1.7 percent
C)2.5 percent
D)7 percent
10

Devoting a large percentage of economic activity to agriculture is a good indication that a country possesses significant economic power.
A)True
B)False
11

Various studies show that there is a strong relationship between economic sanctions and increased child mortality and malnutrition rates.
A)True
B)False
12

More than a quarter of the developing world's urban population is living in absolute poverty.
A)True
B)False





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