Chap016

Chap016 - Chapter 16 - Political Economy and U.S. Trade...

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Chapter 16 - Political Economy and U.S. Trade Policy Chapter 16 Political Economy and U.S. Trade Policy Multiple Choice Questions 1. Which one of the following statements does NOT seem generally valid with respect to the stance of trade policy? a. Policy tends toward freer trade in countries whose imports are inputs into important industries b. Policy has tended toward freer trade when export interests are organized C . Since consumers outnumber producing firms, elected officials usually adopt free-trade policies to satisfy the consumer majority d. Recession periods usually lead to greater protectionism 2. The World Trade Organization a. Prevents each member country from adopting its own trade policy objectives B . Is charged with implementing the agreements reached in the Uruguay Round of trade negotiations c. Requires its member countries to eliminate all barriers to imports d. Requires its member countries to adopt common labor standards with respect to and wages working conditions 3. Recent investigations of the political economy of trade policy have revealed that a. Trade policy is not linked to regional or industrial political interests B . Industries which would incur relatively large labor adjustment costs appear to be relatively heavily protected c. The level of protection does not appear to be influenced by the business cycle d. There is a positive association between the number of firms in an industry and the degree of protection provided to the industry 16-1
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Chapter 16 - Political Economy and U.S. Trade Policy
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This note was uploaded on 11/27/2009 for the course ECON 421 taught by Professor Macphee,c during the Spring '08 term at UNL.

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Chap016 - Chapter 16 - Political Economy and U.S. Trade...

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