| 1. | when do nations protect themselves from trade |
| a. | | times of economic well-being |
| b. | | times of economice stress |
| c. | | always |
| d. | | never, trade benefits all
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| 2. | Their has been a clear trend towards _____ |
| a. | | globalization |
| b. | | protectionism |
| c. | | communism |
| d. | | recession
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| 3. | When did the Doha Round start and what did it involve? |
| a. | | Oct. 2000 countires wanting more gold |
| b. | | Nov. 2001 emerging countries wanting more trade |
| c. | | Dec 1989 Advanced nations replacing fixed rates |
| d. | | 1945 replacement for the gold standard
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| 4. | Protectionist meausures are ___ and pressures are ___ |
| a. | | up down |
| b. | | no evidence they are up, up |
| c. | | no evidence they are up down |
| d. | | no evidence they are down down
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| 5. | Protectionism leads to |
| a. | | quota suspension |
| b. | | economic collapse |
| c. | | large welfare loss |
| d. | | tarrif reductions
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| 6. | World output is less without |
| a. | | specialization, tarrifs |
| b. | | tarrifs, trade |
| c. | | trade and comparative advantages |
| d. | | trade and specialization
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| 7. | Trade globalization |
| a. | | increases unemployment |
| b. | | increases growth |
| c. | | decreases stability |
| d. | | is only achieved through protectionism
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| 8. | Globalization causes |
| a. | | rises in income |
| b. | | restricive trade clauses |
| c. | | higher productivity from the adoption of new technologies |
| d. | | A and C
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| 9. | In an IMF scenarion, Protectionism caused _____ due to.. |
| a. | | downward slope in GDP growth, contractionary monetary policy in response to higher tarrifs |
| b. | | increased economic stability, contractionary monetary policy in response to lower tarrifs |
| c. | | increased productivity,contractionary monetary policy in response to higher tarrifs |
| d. | | all of the above
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| 10. | non-tariff measures (hard to meausure) have |
| a. | | increased slightly in some economies |
| b. | | increased steadily in all economies |
| c. | | remained stable in all economies |
| d. | | decreased in all economies
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| 11. | A way to measure protectionism on capital flow consists in |
| a. | | finding the exchange rate |
| b. | | measuring legal restrictions on cross-border capital flows |
| c. | | measuring the inflation rate |
| d. | | all of the above
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| 12. | The De Jure, and De Facto measures protectionism on capital flow |
| a. | | through price and quantity measure of financial integration, and narratative descriptions to give a quantiative meausure |
| b. | | narratative descriptions to give a quantiative meausure and, through price and quantity measure of financial integration
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