Why is the Doha Round called the Doha Development Round?
What will be an ideal response?
Question 2 - Which of the following is FALSE about the transition from communism to capitalism in Russia and China?
A) China chose a dual track strategy.
B) China's transition strategy was considered gradualist.
C) Russia's transition was aided by the large number of workers it had in heavy industry.
D) China's transition was aided by the large number of workers it had in rural agriculture.
Question 3 - How is the Agreement on Textiles and Clothing impacting trade today?
What will be an ideal response?
Question 4 - Analysts that favor a fast transition to market economies argue that China's success with a gradual transition is a special case because
A) its trade flows were relatively large.
B) so much of its labor force was in agriculture.
C) heavy industry already had a strong foothold when the transition began.
D) its coastal areas were already relatively well developed.
Question 5 - The rules for respecting property rights as they relate to trade were negotiated during the Uruguay Round (1986-1994 ) and culminated in the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement.
Indicate whether the statement is true or false
Question 6 - Which of the following is not a potential source of comparative advantage for China in the manufacturing sector?
A) Abundant low wage, low skill workers
B) A large domestic market that can lead to scale economies
C) Coastal areas with good logistics for international trade
D) Abundant credit from China's government sector to set up manufacturing operations
Question 7 - Deadweight losses are the only potential cost associated with tariffs, which is why they are preferred to quotas.
Indicate whether the statement is true or false
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