ARIZONA STATE UNIVERSITY POS 351 | POS351 MIDTERM

ARIZONA STATE UNIVERSITY POS 351 | POS351 MIDTERM • Question 1 Which of the following is NOT a policy that trade liberalization would seek to eliminate? • Question 2 Which of the follow ing does NOT describe the WTO? • Question 3 The WTO relies on • Question 4 The majority of regional trade agreements • Question 5 The enforcement problem of trade agreements refers to the fact that • Question 6 If more trade is created than diverted, a regional trade agreement (RTA) • Question 7 The difference between a FTA and a Customs Union • Question 8 Consumption Indifference Curves • Question 9 In an autarkic country, the `production possibility frontier' • Question 10 Which of the following explains why coutnries that trade choose to produce goods that use a lot of their abundant factor? • Question 11 In developing countries, capital is considered a ________ factor. • Question 12 In a liberalized country with an abundance of labor and land but little capital, we would expect • Question 13 • Question 14 A sectoral model of trade assumes When labor protested NAFTA while the car manufacturers were pushing for its ratification, this was an example of • Question 15 A `specific factor' • Question 16 Refer to the following figure depicting trade liberalization as a Prisoner's Dilemma (a variant of Figure 3.5 on page 59). Which quadrant represents Australia's most preferred outcome in its negotiated trade agreement with the EU? (note: L = liberalize; P = protect) European Union Australia L,L L,P P,L P,P • Question 17 Once again, refer to the following figure depicting trade liberalization as a Prisoner's Dilemma (a variant of Figure 3.5 on page 59). Which quadrant represents the Nash equilibrium? European Union Australia L,L L,P P,L P,P • Question 18 If a trade agreement allows the company CompuGlobalHyperMegaNet to access a million more customers, thereby bringing down its cost of production per unit, it is taking advantage of which of the following? • Question 19 In a factor-based model of trade, if a developed country begins producing more computer software and fewer tableclothes, who benefits? • Question 20 Looking at the following payoff matrix of a hypothetical market that supports only one high-tech computer firm with two countries competing internationally, answer the following: Which country is providing subsidies for production? UK Computer Firm Produce Not Produce US Computer Firm Produce -6.5, 6.5 100, 0 Not Produce 0, 113 0, 0 • Question 21 Looking at the following payoff matrix of a hypothetical market that supports only one high-tech computer firm with two countries competing internationally, answer the following: Which country would you deduce had the first-mover advantage? UK Computer Firm Produce Not Produce US Computer Firm Produce -6.5, 6.5 100, 0 Not Produce 0, 113 0, 0 • Question 22 Looking at the following payoff matrix of a hypothetical market that supports only one high-tech computer firm with two countries competing internationally, answer the following: What is the expected effect of the subsidizing country’s entry in the market on the non-subsidizing country’s firm? UK Computer Firm Produce Not Produce US Computer Firm Produce -6.5, 6.5 100, 0 Not Produce 0, 113 0, 0 • Question 23 Which of the following was NOT a benefit of creating the WTO? • Question 24 Government policies used to implement ISI included ALL of the following except • Question 25 The Structuralists believe • Question 26 Structuralists argue that • Question 27 The WTO's Dispute Settlement Mechanism • Question 28 As discussed in the article "Trump's New Nafta Pact...", vested U.S. interests influenced Trump and his administration • Question 29 Structural Adjustment Programs • Question 30 Primary ISI was thought to be “easy” because of ALL of the following EXCEPT • Question 31 Which of the following helps to explain the political shift to ISI in Brazil? • Question 32 Infant Industry Protection is argued 0 out of 2.5 points • Question 33 The logic of infant industry protection was first developed to • Question 34 The E. Asian Tigers