Deck 8: The Foreign Economic Bureaucracy and the National Economic Council

Question 1

Which of the following types of policy played an important role in the movement for independence from Britain?

A) trade
B) fiscal
C) monetary
D) tax

Answer 1

A

Question 2

The Bretton Woods international economic system was premised on ______.

A) the principles of free trade
B) the belief that tariffs were necessary
C) competition, rather than cooperation
D) closed door policies

Answer 2

A

Question 3

This pattern in US foreign economic policy was deeply affected by the collapse of the international economy accompanying the ______.

A) onset of World War I
B) Great Depression
C) Great Recession
D) onset of the Vietnam War

Answer 3

B

Question 4

Which of the following was indicative of the high priority of US foreign economic policy under the Bush and Clinton administrations?

A) American Jobs Act
B) North American Free Trade Agreement (NAFTA)
C) US-Mexico-Canada Agreement (USMCA)
D) Emergency Economic Stabilization Act

Question 5

According to the authors, a key part of President Trump's political base ______.

A) favored free trade
B) favored market-based capitalism
C) rejected free trade
D) rejected nationalism

Question 6

Many of President Trump's voters saw themselves as ______.

A) educated
B) affluent
C) poorly paid
D) overemployed

Question 7

The United States, under President Trump, withdrew from the Trans Pacific Partnership, which had been negotiated between the United States and 11 Pacific rim partners to counter the growing might of ______.

A) China
B) North Korea
C) Ukraine
D) Russia

Question 8

In an attempt to reduce US trade deficits, the United States, under President Trump, implemented a series of tariffs against various partners, most notably ______.

A) Canada
B) Mexico
C) China
D) Great Britain

Question 9

Which of the following agencies was identified as the most important in areas of international economics?

A) Commerce
B) Agriculture
C) State
D) Treasury

Question 10

Which of the following individuals represents the US government in key international economic organizations such as the International Monetary Fund (IMF) and the World Bank?

A) secretary of defense
B) secretary of commerce
C) secretary of treasury
D) secretary of agriculture

Question 11

Relative to the Treasury Department, the influence of the Department of State on US international economic policy has ______.

A) significantly increased
B) declined
C) slightly increased
D) remained the same

Question 12

Which of the following agencies is principally responsible for administering economic assistance and supervising economic development policy abroad?

A) Bureau for Economic and Business Affairs
B) US Agency for International Development
C) International Trade Administration
D) Inter-American Development Bank

Question 13

Which of the following agencies has the primary responsibility for the importation of foreign products, international economic policy, and trade promotion, especially non-agricultural?

A) Bureau for Economic and Business Affairs
B) US Agency for International Development
C) International Trade Administration
D) Inter-American Development Bank

Question 14

The ______ directs the government's export control policy.

A) Bureau of Industry and Security
B) Foreign Commercial Service
C) Bureau for Economic and Business Affairs
D) US Tourism and Travel Office

Question 15

Which of the following is considered to be the central emphasis of the Department of Labor?

A) enforcing US export control laws
B) promoting a fair global playing field for US workers
C) preparing energy and plans in case of national emergency
D) providing grants and credits to foreign governments

Question 16

Which of the following is considered to be an independent agency that determines and executes the general monetary and credit and serves as the government's central bank?

A) Department of Commerce
B) Treasury Department
C) Export-Import Bank
D) The Federal Reserve Board

Question 17

Which of the following is an example of an EOP agency?

A) the FED
B) the National Economic Council
C) US Trade and Development Agency
D) Export-Import Bank

Question 18

Members of the Council of Economic Advisors (CEA) are usually ______.

A) academics
B) presidential appointees
C) elected officials
D) businessmen or women

Question 19

Which of the following agencies was designed to assist in the creation of jobs for Americans by helping US companies export and pursue overseas business opportunities?

A) the Overseas Private Investment Corporation
B) US International Trade Commission
C) the Export-Import Bank
D) US Trade and Development Agency

Question 20

The ______ insures American companies against the political risks of foreign investment, such as expropriation and damage from war, revolution, insurrection, or civil strife.

A) Overseas Private Investment Corporation
B) US International Trade Commission
C) Export-Import Bank
D) US Trade and Development Agency

Question 21

The Export-Import Bank was established in 1934 to promote trade only with ______.

A) Soviet Union
B) Russia
C) Japan
D) China

Question 22

The ______ provides analysis and maintenance tariffs and the US tariff schedule.

A) Overseas Private Investment Corporation
B) US International Trade Commission
C) Export-Import Bank
D) US Trade and Development Agency

Question 23

The US International Trade Commission is made of up six commissioners who are appointed for ______ terms.

A) two year
B) four year
C) six year
D) nine year

Question 24

Which of the following cities is considered to be the financial center of the United States?

A) Los Angeles
B) Washington, DC
C) Chicago
D) New York

Question 25

The Fed is an example of a/an ______.

A) commission
B) government corporation
C) independent agency
D) cabinet department

Question 26

During the Cold War, international economics was considered ______.

A) low priority
B) medium priority
C) high priority
D) not a priority

Question 27

Historically, the ______ was the lead agency responsible for coordinating US foreign economic policy.

A) Department of State
B) Department of Defense
C) Department of the Treasury
D) Department of Commerce

Question 28

After World War II which of the following departments grew in prominence, becoming "a first among equals"?

A) Department of Defense
B) Department of Commerce
C) Department of the Treasury
D) Department of Energy

Question 29

As the foreign economic bureaucracy grew, power ______.

A) centralized
B) decentralized
C) remained stable
D) merged

Question 30

An early effort at the coordination of bureaucratic agencies involved which of the following processes?

A) security
B) committee
C) budgetary
D) trade

Question 31

What effect did the decentralization of power have on the president's actions concerning foreign policy?

A) it made it easy for the president to manage economic aspects of foreign policy
B) it made it difficult for the president to manage economic aspects of foreign policy
C) it made it impossible for the president to manage economic aspects of foreign policy
D) it did not have any effect of the president's actions concerning foreign policy

Question 32

Interagency committees that were created to promote interaction and coordination of foreign economic policy are most often chaired by the ______.

A) Department of Commerce
B) Department of the Treasury
C) Department of State
D) Department of Defense

Question 33

The National Economic Council (NEC) was designed to function as a/an ______.

A) honest broker
B) process manager
C) personal advisory council
D) mix of honest broker, process manager, and personal advisory council

Question 34

Which of the following stages is the National Economic Council (NEC) responsible for?

A) analysis
B) planning
C) implementation
D) evaluation

Question 35

The National Economic Council (NEC) was created by ______.

A) President Clinton
B) President Nixon
C) President Ford
D) President Trump

Question 36

Which of the following types of economic policy is coordinated by the National Economic Council (NEC)?

A) only domestic
B) only intermestic
C) only international
D) domestic, intermestic, and international

Question 37

The core group of the National Economic Council is the ______.

A) Deputies committee
B) Principals Committee
C) interagency working groups
D) the president and the director

Question 38

Which of the following types of groups are committed on an ad hoc basis?

A) deputies committees
B) principals committees
C) working groups
D) core groups

Question 39

The creation of the National Economic Council (NEC) had immediate effects on the ______.

A) community development
B) infrastructure and transportation
C) tax policy
D) budget

Question 40

Which of the following was established during the Trump administration?

A) National Economic Council
B) National Security Council
C) National Trade Council
D) Economic Security Council

Question 41

In the 1970s, foreign economic policy generally took a back seat to the so-called high politics of national security and the Cold War.

Question 42

The Fed is officially under the control of the president.

Question 43

Fed policies influence the activities of other major banking systems as well, such as in Europe and Japan.

Question 44

Domestic and international economics are classic intermestic issues.

Question 45

No single department or cabinet member can exercise effective oversight of overall foreign economic policy.

Question 46

What has American foreign economic policy focused on since its inception?

Question 47

What factors led to the unsustainability of the Bretton Woods system?

Question 48

Why have the jurisdictional lines between governmental institutions with primary responsibility for domestic economic policies have become blurred?

Question 49

What legacy did the low priority of international economics during the Cold War legacy?

Question 50

What are the functions of the National Economic Council (NEC)?