Question 1

The UN Center for Transnational Corporations was created for what purpose?

Accepted Answer

The UN Center for Transnational Corporations was created to establish global standards and regulations for multinational corporations, intending to regulate their activities and enforce accountability for their actions.

Question 2

GATT

Accepted Answer

GATT (General Agreement on Tariffs and Trade) is the treaty underlying the formation of the WTO (World Trade Organization). While GATT faced some challenges during its time, it can't be considered a failure as it led to the creation of the WTO, which continues to play an important role in world trade. GATT primarily focuses on trade liberalization and reducing barriers to free trade between member nations. It does not specifically address development issues.

Question 3

What event served as the impetus to change the structure and course of international economic reform?

Accepted Answer

The impetus to change the structure and course of international economic reform was provided by the devastation caused by World War II, which led to the creation of international organizations such as the United Nations, the International Monetary Fund, and the World Bank, all of which were designed to promote international cooperation and economic stability.

Question 4

The WTO has

Accepted Answer

The statement mentions that the WTO has had 30 cases filed annually in recent years, indicating that the organization has indeed handled cases. Therefore, option A and C can be ruled out. The statement does not provide any information about the WTO imposing sanctions on countries, so option D cannot be selected either.

Question 5

What type of trade protections were included in the Uruguay Round of GATT revisions for the first time?

Accepted Answer

The Uruguay Round of GATT revisions included agricultural tariffs for the first time, marking a significant expansion of the agreement's scope to cover agricultural trade, which had previously been largely exempt from GATT rules.

Question 6

The liberal idea of interdependence seeks the

Accepted Answer

The liberal idea of interdependence emphasizes the promotion of free markets for the economic good of all. It seeks to create a global economic system in which all countries can benefit from the production and consumption of goods and services, rather than limiting free markets to the economic benefit of the strong or domestic labor force only.

Question 7

Which of the following do economic nationalists not argue?

Accepted Answer

Economic nationalists argue against trade liberalization, believing that it hurts domestic industries and leads to job losses. Therefore, option D is the one that economic nationalists do not support.

Question 8

What did signatories of the Uruguay Round document pledge to do about tariffs over the next 10 years?

Accepted Answer

The signatories of the Uruguay Round document pledged to reduce tariffs by one-third, on average, over the next 10 years.

Question 9

UNCTAD was founded primarily for the purpose of

Accepted Answer

UNCTAD, or the United Nations Conference on Trade and Development, was founded in 1964 with the primary goal of addressing the economic concerns of the less developed countries (LDCs) and promoting their integration into the world economy. It is a forum for member states to discuss policies and programs aimed at expanding and diversifying their economies, improving their competitiveness, and increasing their participation in the global trading system. While promoting industry growth and addressing issues around intellectual property rights are part of UNCTAD's mandate, its primary focus is on economic development in the LDCs.

Question 10

The membership of the WTO includes

Accepted Answer

The membership of the WTO includes most states including LDCs and EDCs. As of 2020, there were 164 members of the WTO, representing a diverse range of economies and levels of development. While developed countries make up the bulk of WTO membership, a significant number of developing and least developed countries have also joined the organization.

Question 11

The UN Development Programme works to

Accepted Answer

The UN Development Programme (UNDP) primarily works to provide technical assistance and funds to Least Developed Countries (LDCs) to help them achieve sustainable development goals. UNDP aims to help countries reduce poverty, improve governance, promote democratic values, empower women, and address climate change and other global challenges. While UNDP may indirectly contribute to strengthening the global economy, its primary focus is on development in LDCs through initiatives such as capacity building, knowledge sharing, and innovation. Access to global markets and military spending are not within the scope of UNDP's activities.

Question 12

In order for an LDC to expand and diversify their economies,these states require

Accepted Answer

To expand and diversify their economies, LDCs require development capital. This refers to the financial resources necessary to invest in industries, infrastructure, and technologies that can stimulate economic growth and generate employment opportunities. Endorsements, domestic aid, and transnational loans may also be useful for LDCs, but they are not the primary requirement for economic expansion and diversification.

Question 13

Which of the following is not common defense of the IMF?

Accepted Answer

While the other three choices are common defenses of the IMF, the statement that loan conditionality undermines social welfare would be a criticism of the institution rather than a defense of it.

Question 14

The struggle between the forces of economic internationalism and economic nationalism

Accepted Answer

The struggle between economic internationalism and economic nationalism is still ongoing and is likely to continue being a major issue in international relations and economic policy in the years to come.

Question 15

The shift in emphasis in economic cooperation to the problems of LDCs was prompted by all of the following developments except for

Accepted Answer

The fear of rapid currency fluctuations caused by inequality is not directly related to the shift in emphasis in economic cooperation towards the problems of Less Developed Countries (LDCs). The other options (return to prosperity in the North, rising awareness regarding the plight of LDCs, and independence movements ending colonization) are more directly connected to the increased focus on LDCs.

Question 16

At the 2002 International Conference on Financing for Development (ICFD),participating countries agreed to the UN's recommended goal of contributing what percentage of their GNPs to economic development?

Accepted Answer

At the 2002 International Conference on Financing for Development (ICFD), participating countries agreed to contribute 0.7 percent of their Gross National Product (GNP) to economic development as part of the UN's recommended goal for Official Development Assistance (ODA) to developing countries. Therefore, the correct answer is B) 0.07 percent.

Question 17

Which international organization promotes global free trade?

Accepted Answer

The World Trade Organization (WTO) promotes global free trade by facilitating trade negotiations and resolving disputes between member countries. Its aim is to create a level playing field for international trade and reduce barriers to trade, such as tariffs and quotas. The International Monetary Fund (IMF) primarily focuses on promoting international monetary cooperation and stability, while the UN Conference on Trade and Development (UNCTAD) is a forum for developing countries to discuss trade issues and promote their interests. The International Trade Organization (ITO) was created in 1948 but was never brought into existence, and its functions were absorbed by the WTO.

Question 18

Which of the following is not an IGO created to facilitate economic interactions across national boundaries?

Accepted Answer

The North American Treaty Organization (NATO) is a military alliance, not an IGO created to facilitate economic interactions. The other options - World Bank, IMF, and WTO - are all IGOs specifically created for economic purposes.

Question 19

In trade dispute cases brought to the WTO

Accepted Answer

The WTO dispute settlement process involves a panel, often consisting of three experts, who hear the case and make rulings.

Question 20

As of 2002,which country has been involved in WTO hearings most frequently?

Accepted Answer

The United States has been involved in WTO hearings more frequently than any other country, with a total of 127 cases brought against it as of 2002.

Quiz 11: International Economics: The Alternative Road

The UN Center for Transnational Corporations was created for what purpose?

GATT

What event served as the impetus to change the structure and course of international economic reform?

The WTO has

What type of trade protections were included in the Uruguay Round of GATT revisions for the first time?

The liberal idea of interdependence seeks the

Which of the following do economic nationalists not argue?

What did signatories of the Uruguay Round document pledge to do about tariffs over the next 10 years?

UNCTAD was founded primarily for the purpose of

The membership of the WTO includes

The UN Development Programme works to

In order for an LDC to expand and diversify their economies,these states require

Which of the following is not common defense of the IMF?

The struggle between the forces of economic internationalism and economic nationalism

The shift in emphasis in economic cooperation to the problems of LDCs was prompted by all of the following developments except for

At the 2002 International Conference on Financing for Development (ICFD) ,participating countries agreed to the UN's recommended goal of contributing what percentage of their GNPs to economic development?

Which international organization promotes global free trade?

Which of the following is not an IGO created to facilitate economic interactions across national boundaries?

In trade dispute cases brought to the WTO

As of 2002,which country has been involved in WTO hearings most frequently?

Quiz 11: International Economics: The Alternative Road

The UN Center for Transnational Corporations was created for what purpose?

GATT

What event served as the impetus to change the structure and course of international economic reform?

The WTO has

What type of trade protections were included in the Uruguay Round of GATT revisions for the first time?

The liberal idea of interdependence seeks the

Which of the following do economic nationalists not argue?

What did signatories of the Uruguay Round document pledge to do about tariffs over the next 10 years?

UNCTAD was founded primarily for the purpose of

The membership of the WTO includes

The UN Development Programme works to

In order for an LDC to expand and diversify their economies,these states require

Which of the following is not common defense of the IMF?

The struggle between the forces of economic internationalism and economic nationalism

The shift in emphasis in economic cooperation to the problems of LDCs was prompted by all of the following developments except for

At the 2002 International Conference on Financing for Development (ICFD) ,participating countries agreed to the UN's recommended goal of contributing what percentage of their GNPs to economic development?

Which international organization promotes global free trade?

Which of the following is not an IGO created to facili­tate economic interactions across national boundaries?

In trade dispute cases brought to the WTO

As of 2002,which country has been involved in WTO hearings most frequently?

Which of the following is not an IGO created to facilitate economic interactions across national boundaries?