Introduction to International Development, Practice Quiz: Chapter 15

Introduction to International Development, Practice Quiz: Chapter 15

Quiz Content

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. Some commodity control schemes succeeded ________.

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. Free trade moved to the centre of global trade policy in the ________.

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. The following accurately describes the idea of comparative advantage: ________.

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. The ________ is the major global governance institution tasked with policing and promoting free trade and deregulation among its member states.

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. ________ have the highest average annual export trade.

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. According to the text, trends in trade exports have major significance for ________.

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. The ________ perspective is premised on the notion that the removal of barriers to trade and the limitation of state intervention in economic and social interactions will provide the greatest social gains in the North and the South.

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. The escalating tariff rate for coffee beans entering the European Union is an example of ________.

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. Neoliberal structural adjustment policies (SAPs) ________.

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. According to Michael Goldman, the World Bank gets a great deal of power from ________.

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. Despite the WTO's shortcomings, passionate free trader ________ still prefers its multilateral vision to the burgeoning array of bilateral "free trade" agreements.

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. ________ believed that free trade must be understood as an ideological tool designed to ensure the "hegemonic" dominance of the world system by the elites in northern countries.

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. In the 1950s, international agreements under the oversight of the United Nations were signed from major commodities. ________ was not one of these commodities.

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. ________ is the number-one purchaser of major goods, from cars and pork to timber, gold, and crude oil.

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. The Foxconn Research Group, composed of researches in China, Hong Kong, and Taiwan, conducted an investigation into ________.

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. Comparative advantage refers to a state's ability to trade effectively.

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. Power/knowledge regimes, such as the free trade discourse, serve to naturalize and legitimize the current world order.

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. The theory of unequal exchange argues that developing countries cannot gain from comparative advantage through international trade because the money earned from exporting primary commodities will always be less than the cost of importing industrial goods from the North.

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. According to fair trade supporters, markets have always been regulated to some extent.

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. The International Coffee Agreement (ICA) is a successful example of regulating international prices.

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. The World Trade Organization (WTO) adopts a fair trade perspective.

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. The fair trade perspective has been optimistic about the possibilities of a win-win situation in international trade.

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. The first United Nations Conference on Trade and Development (UNCTAD) in 1964 saw a call for "aid not trade."

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. The period of embedded liberalism (1960s to 1980s) saw more improvement on human development indicators than the era of neoliberal free trade (1980s onward).

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. The 1963 International Coffee Agreement (IFA) failed to significantly regulate coffee prices on world markets.

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. The national development of southern countries is restricted and distorted by the unequal exchange of lower-priced primary commodities.

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. It is wrong to assume that structural adjustment policies were the powerful mechanisms for the expansion of free trade policies over the developing countries.

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. From 1980, an array of labour, environmental, indigenous, human rights, and women's groups actively supported free trade policies.

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. The onset of the global economic recession at the start of 2008 reignited debate on the pitfalls of unregulated markets and has given new impetus to advocates for regulated fair trade mechanisms.

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. Perhaps one of the most unpredictable events to have occurred in the past decade or so has been the "Rise of the South."

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