Which of the following organizations primarily provides long-term loans to developing countries to help them develop their infrastructure such as schools hospitals and roads ?

A. World bank
B. International monetary fund
C. Council on foreign relations
D. Organization of petroleum exporting countries

Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?

A. Purchase; decrease
B. Purchase; increase
C. Sell; increase
D. Sell; decrease

Most of developing-country exports consist of ?

A. Primary products such as tin and bauxite
B. Intermediate products
C. Labor-intensive agricultural products
D. Labor-intensive manufacturing products

Tariff levels in advanced countries tend to be __________ tariff levels in developing countries?

A. Higher than
B. Equal to
C. Lower than
D. There is no general pattern

Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?

A. Relatively low import tariffs maintained by advanced countries
B. Highly elastic demand for these products in advanced countries
C. Declines in the supplies of these products on world markets
D. Sluggish demand for these products in advanced countries

The Generalized System of Preferences (GSP) program allows ?

A. Developing country export to advanced countries to receive preferential tariff treatment
B. Developing country imports from advanced countries to receive preferential tariff treatment
C. Any developing country to ignore the most-favored nation clause
D. Any advanced country to ignore the most favored-nation clause

Concerning tariff policy, the United States does not charge?

A. Lower tariff rates on goods from nations with normal trade relation status
B. Lower tariff rates on goods from nations with most favored nation status
C. Low or zero tariffs on goods from certain developing countries
D. Identical tariff rates in products from all countries of the world

Among the institutions and policies that have been created to support developing countries are?

A. The world bank
B. The international monetary fund
C. The generalized system of preferences
D. All of the above

The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ?

A. Normal trade relation status
B. Most favored nation status
C. Offshore assembly provisions
D. Generalized system of preferences

To be considered a a good candidate for an export cartel, a commodity should ?

A. Be a manufactured goods
B. Be a primary product
C. Have high price elasticity of supply
D. Have a low price elasticity of demand