Quiz Answer Key

Quiz Answer Key - Quiz 4 Name_ According to the text: 1. Do...

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Quiz 4 Name_____________ According to the text: 1. Do most American economists (more than 50%) support trade barriers? No 2. Do most Americans citizens (more than 50%) support trade barriers? Yes 3. Do most countries have trade barriers? Yes 4. Has the level of trade barriers internationally been fairly consistent over time? No 5. According to the Hecksher-Olin theory, countries that are relatively abundant in land and labor will (circle one: import / export) manufactured products. Import 6. According to the Hecksher-Olin/Stopper Samuelson theory, individuals whose wealth derives primarily from resources that are abundant in their country will tend to (circle one: favor / oppose ) protection. Oppose 7. Would the Stopper Samuelson theory predict that a janitor working for Microsoft, a capital intensive industry—would support free trade? No . You need to be able to understand why this is true (Stoper-Samuleson assumes wages are set by supply and demand for the factors of production, etc) 8. An economically developed country with a high land to labor ratio (like Canada) should have political cleavages that are based on (circle one: class or region) Class 9. A less economically developed country with a low land to labor ratio (like Haiti) should have political cleavages that are based on (circle one: class or region). Class Quiz 5 Name_____________ According to the text: 10. What is the name of the Monetary system/regime that existed among industrializing countries from 1860 to 1930? Gold Standard 11.Are average returns on capital higher in poor countries or rich countries? Poor Countries 12.What are the two types of foreign investments? Portfolio and Direct 13.What is the main thing that the IMF does?
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Lend money to countries with financial/currency crises… (used to play a slightly larger role in monitoring/maintaining exchange rate regimes 14.Name two of the four types of monetary systems mentioned in the text. Species, Fixed, Floating, Universal
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This note was uploaded on 04/07/2008 for the course POLI SCI 12 taught by Professor Lake during the Spring '07 term at UCSD.

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Quiz Answer Key - Quiz 4 Name_ According to the text: 1. Do...

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