Chapter 07 - Morrison - Gbe 4e

10 Questions

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Chapter 07 - Morrison - Gbe 4e


Questions and Answers
  • 1. 
    Which of the following is not one of BHP Billiton’s businesses?
    • A. 

      Iron ore

    • B. 

      Copper

    • C. 

      Wheat

    • D. 

      Oil

  • 2. 
    Which of the following is not a ‘triad’ country?
    • A. 

      Japan

    • B. 

      China

    • C. 

      US

    • D. 

      Germany

  • 3. 
    Which of the following are among the main exports of sub-Saharan African countries?
    • A. 

      Natural resources

    • B. 

      Manufactured goods

    • C. 

      Services

    • D. 

      High-tech products

  • 4. 
    Who put forward the theory of comparative advantage?
    • A. 

      Adam Smith

    • B. 

      David Ricardo

    • C. 

      Raymond Vernon

    • D. 

      Michael Porter

  • 5. 
    What is the aim of protectionism as a trade policy?
    • A. 

      To increase competition

    • B. 

      To lower prices for consumers

    • C. 

      To encourage domestic producers

    • D. 

      To encourage imports

  • 6. 
    What does the WTO dispute settlement process provide?
    • A. 

      A means of negotiating trade agreements

    • B. 

      A means of settling a trade dispute between two countries

    • C. 

      A means of resolving trade wars between countries

    • D. 

      A means of punishing dumping practices

  • 7. 
    Why was the Canadian government unable to prohibit the MMT additive in fuel?
    • A. 

      Because the NAFTA allowed free access to the Canadian market

    • B. 

      Because MMT has been proved to be a safe additive

    • C. 

      Because the car industry in Canada lobbied for MMT to be allowed

    • D. 

      Because the producer was successful in an investor-state arbitration tribunal

  • 8. 
    Why did the Doha round of multilateral trade negotiations fail?
    • A. 

      Because the US blocked it

    • B. 

      Because India blocked it

    • C. 

      Because of irreconcilable differences among developed and developing countries

    • D. 

      Because the EU blocked it

  • 9. 
    What is a ‘common market’?
    • A. 

      Free movement of goods among member states

    • B. 

      Free movement of goods, labour and capital among member states

    • C. 

      Common external trade rules among member states

    • D. 

      Ever closer economic union among member states

  • 10. 
    What strategic decision did Glencore take in 2013?
    • A. 

      To withdraw from the mining sector

    • B. 

      To cease commodity trading

    • C. 

      To go public

    • D. 

      To acquire Xstrata