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38 Cards in this Set
- Front
- Back
Economic Internationalists view global economic inequality as resulting from
A. decolonization B. correctable imperfections in the current global economy C. structural problems in the current global economy D. the nature of the global economy |
B. correctable imperfections in the current global economy
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What event served as the impetus to change the structure and course of international economic reform?
A. Balkan War B. World War I C. World War II D. Vietnam War |
C. World War II
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In order for an LDC to expand and diversify their economies, those states require
A. development capital B. endorsements C. domestic aid D. transnational loans |
A. development capital
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In order to purchase needed imports, LDCs need to
A. print more money B. form cartels C. acquire hard currency D. embrace capitalism |
C. acquire hard currency
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One requirement that countries on the verge of bankruptcy must fulfill in order to maintain a good credit rating is to meet their principal and interest payments. This is called
A. subsistence service B. debt service C. loan service D. repayment service |
B. debt service
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Most foreign aid to LDCs comes from
A. NICs B. other LDCs C. bilateral sources D. multilateral sources |
C. bilateral sources
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UNCTAD was founded primarily for the purpose of
A. addressing the economic concerns of LDCs B. preserving the environment of LDCs C. integrating LDCs into the global economy D. addressing issues of intellectual property rights |
C. integrating LDCs into the global economy
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Since 1995, which country has been involved in WTO hearings most frequently?
A. Singapore B. The United States C. China D. Japan |
B. the United States
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Why is withdrawal from the WTO not a good strategy for members involved in trade disputes?
A. Doing so would incur a financial penalty B. Doing so would lead to economic sanction by the UN C. Doing so would lead to cyclical currency instability D. Doing so would cause a nation to lose advantages of reciprocal low tariffs. |
D. Doing so would cause a nation to lose advantages of reciprocal low tariffs.
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Which of the following IGOs is concerned with maintaining exchange rate stability?
A. WTO B. World Bank Group C. IMF D. NAFTA |
C. IMF
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Which of the following is not a typical condition associated with an IMF loan?
A. the loan must be repaid within 12 months B. State-run enterprises must be privatized C. Government budget deficits must be reduced D. Trade barriers must be reduced or eliminated |
C. Government budget deficits must be reduced
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International Finance Corporation focuses on making loans to
A. governments in LDCs B. individual entrepreneurs C. companies in LDCs D. countries in transition |
C. companies in LDCs
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One of the recent concerns of the G-8 is
A. the development of LDCs B. developing political stability in the South C. the economic ramifications of ethnic fighting D. the environmental ramifications of economic policies |
A. the development of LDCs
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Which country was excluded from the 1994 Summit of the Americas meeting?
A. Cuba B. Uruguay C. The US D. Brazil |
A. Cuba
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Free trade advocates argue that free trade is beneficial to the international economy for all of the following reasons except that if
A. promotes global prosperity B. ensures that countries specialize according to their expertise C. promotes competition thereby ensuring better products and more quality goods D. protects the domestic economy |
D. protects the domestic economy.
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According to free trade advocates, protectionism results in
A. increased international conflict B. higher prices due to tariffs C. increased international social class divisions D. the availability of fewer jobs |
B. higher prices due to tariffs
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Which of the following countries do free trade advocates uses as evidence that free trade promotes leads to democracy?
A. Taiwan B. Mexican C. Taiwan D. China |
D. China
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Which IPE theory contends that using economic relations as a policy tool is a powerful and advantageous way to pursue policy?
A. economic internationalism B. economic nationalism C. economic structuralism D. economic functionalism |
B. economic nationalism
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True Or False: Economic nationalism can no longer exist in the international economic system
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False
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True Or False: Loans are one way in which LDCs seek to acquire hard currency
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True
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True Or False: One role that the UN plays is to regulate transnational corporations
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True
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True Or False: The UNDP promotes grassroots economic development in the LDCs
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True
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True Or False: The UN Conference On Trade and Development is a key forum for Southern views on the global economy
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True
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True Or False: The break down of the Doha round was widely seen as unimportant
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False
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True Or False: The IMF currently follows a system under which currencies are exchanged against the US dollar on a "fixed-rate" tied to the price of gold
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False
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True Or False: Membership of the IMF is restricted to EDCs
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False
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True Or False: Defenders of the IMF argue that conditionality requirements, even those that are unpopular, are necessary to correct problems that have led to financial difficulty, thus arguing that the hardships the IMF creates are a means to an end.
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True
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True Or False: Unlike the IMF, the World Bank is not dominated by the North
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False
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True Or False: Although public opinion has pushed the G-8 to consider development issues, the G-8 has yet to address them
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False
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True Or False: The FTAA aims to link the Northern Hemisphere into a single market
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True
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close interrelationship and mutual dependence of 2 or more domestic economies on each other
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What is interdependence?
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UN-sponsored conference on development programs for the South
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What is International Conference on Financing For Development?
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ninth and latest round of GATT negotiations to reduce barriers to International Free Economic Interrelationship
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What is the Doha Round?
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- world's primary organization devoted to maintaining monetary stability by helping countries to fund balance-of-payments deficit
- 1947 - 185 members |
What International Monetary Funds?
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reserves held by the IMF that the Central Banks of member-countries can draw on to help manage the value of their countries
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What is Special Drawing Rights?
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- policy of the IMF, World Bank, and some other Financial Agencies to attack their conditions to their loans and grants
- may require recipient countries to devalue their currencies, lift controls on prices, cut their budgets, and reduce barriers to trade and capital flow |
What is conditionality?
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grant loans to LDCs by 4 associated agencies for economic development and other financial needs
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What is World Bank Group?
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- Money and resources needed by LDC to increase their economic growth and diversify their economies
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What is development capital?
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