Quiz 7 Spring 2012

Quiz 7 Spring 2012 - Quiz 7 Spring 2012 1. Boeing argues...

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Quiz 7 Spring 2012 1. Boeing argues that European governments in effect subsidized the Airbus A380 in violation of international trade agreements by a. exempting Airbus from taxes. b. giving Airbus loans that are unlikely to be repaid. c. overpaying Airbus for government planes. d. subsidizing Airbus’ suppliers. e. subsidizing airlines that overpay for planes. 2. Airbus says that the market for jumbo planes over the next 20 years will average about 75 planes a year. Boeing a. agrees. b. estimates the market will average around 25 planes a year. c. estimates the market will average around 225 planes a year. 3. When an appeals panel of the ______ issued a ruling in May 2011 on the dispute between Boeing and Airbus, both sides claimed victory. a. UN b. WTO c. World Court d. EC Supreme Court e. US Supreme Court 4. The “level playing field” argument is often used to justify a. fair trade policies that encourage foreign competition. b. fair trade policies that restrict foreign competition. c. free trade policies that encourage foreign competition. d. free trade policies that restrict foreign competition. e. the flat tax. 5. Fair trade is sometimes called a. the Asian model. b. free trade. c. managed trade. d. import-substituting industrialization. e. the European model. 6. Companies such as Sony, Volkswagen, and Dell usually support a. fair trade. b. free trade. c. managed trade. d. import-substituting industrialization. 7. A major practical flaw in an infant industry policy is that the selection of industries to favor may be based on
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a. past rather than current comparative advantage. b. future rather than current comparative advantage. c. political strength. d. absolute rather than comparative advantage. 8. A practical flaw in an infant industry policy is that an industry is likely to be protected a. before its conception. b. in its teens. c. in its maturity. 9. Over the past 30 years the U.S. shipbuilding industry has survived because a. the WTO has prevented Korea from subsidizing its shipbuilding industry. b. of its technological superiority. c. it is protected from foreign competition. d. of its specialization in container ships. e. of its specialization in cruise ships. 10. Strategic trade theory applies best to industries that are a. perfectly competitive. b. monopolistically competitive. c. oligopolies. d. monopolies. e. in the service sector. 11. Strategic trade theory applies in ______ industries in which fixed costs are _____. a. oligopolistic … high b. oligopolistic … low c. perfectly competitive … high d. perfectly competitive … low 12. After WWII, Singapore, South Korea and Taiwan adopted _____ strategies. In general export promotion strategies turned out to be ____ effective than import substitution strategies. a. export promotion … less
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This note was uploaded on 03/12/2012 for the course GEB 3373 taught by Professor Crum during the Spring '10 term at University of Florida.

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Quiz 7 Spring 2012 - Quiz 7 Spring 2012 1. Boeing argues...

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