* not completed

. Some commodity control schemes succeeded ________.

a) by assisting the development of developing countries by foreign governments correct incorrect

b) by the intervention of the World Bank correct incorrect

c) by providing important price supports to small producers correct incorrect

d) by the International Monetary Fund correct incorrect

e) by the intervention of the United Nations correct incorrect

* not completed

. Free trade moved to the centre of global trade policy in the ________.

a) 1930s correct incorrect

b) 1950s correct incorrect

c) 1960s correct incorrect

d) 1970s correct incorrect

e) 1990s correct incorrect

* not completed

. The following accurately describes the idea of comparative advantage: ________.

a) Each nation has an economic advantage relative to other nations in terms of purchasing power parity rates correct incorrect

b) Each nation has an economic advantage relative to other nations for the production of some goods correct incorrect

c) Economic advantage comes from producing the most appropriate commodity correct incorrect

d) Historically, Northern countries have held numerous advantages that make it difficult for Southern countries to benefit from the opening up of the world market correct incorrect

e) Some nations will be unable to benefit from an open, globalized market correct incorrect

* not completed

. The ________ is the major global governance institution tasked with policing and promoting free trade and deregulation among its member states.

a) World Trade Organization correct incorrect

b) General Agreement on Tariffs and Trade correct incorrect

c) Global Trade Association correct incorrect

d) Organization for Economic Cooperation and Development correct incorrect

e) Fair Trade United correct incorrect

* not completed

. ________ have the highest average annual export trade.

a) North America and Europe correct incorrect

b) Latin America and the Caribbean correct incorrect

c) East Asia and the Pacific correct incorrect

d) Europe and Central Asia correct incorrect

e) Central Asia and East Asia correct incorrect

* not completed

. According to the text, trends in trade exports have major significance for ________.

a) economics correct incorrect

b) global politics correct incorrect

c) social change correct incorrect

d) human development correct incorrect

e) all of the above correct incorrect

* not completed

. The ________ perspective is premised on the notion that the removal of barriers to trade and the limitation of state intervention in economic and social interactions will provide the greatest social gains in the North and the South.

a) new trade correct incorrect

b) free trade correct incorrect

c) neoliberal trade correct incorrect

d) fair trade correct incorrect

e) comparative advantage correct incorrect

* not completed

. The escalating tariff rate for coffee beans entering the European Union is an example of ________.

a) an unfair protectionist policy correct incorrect

b) a forward-thinking protectionist policy correct incorrect

c) fairer trade for Southern nations correct incorrect

d) compensatory financial schemes correct incorrect

e) a trade stabilization system correct incorrect

* not completed

. Neoliberal structural adjustment policies (SAPs) ________.

a) severely threatened the expansion of free trade correct incorrect

b) allowed rural producers to receive appropriate financial compensation correct incorrect

c) were powerful mechanisms in the expansion of free trade correct incorrect

d) make fair trade a realistic possibility correct incorrect

e) led to the implementation of protectionist policies in the developing world correct incorrect

* not completed

. According to Michael Goldman, the World Bank gets a great deal of power from ________.

a) its extensive financial resources correct incorrect

b) its construction of knowledge about what development is and is not correct incorrect

c) sovereign wealth funds correct incorrect

d) its Western supporters correct incorrect

e) controlling the debt of developing countries correct incorrect

* not completed

. Despite the WTO's shortcomings, passionate free trader ________ still prefers its multilateral vision to the burgeoning array of bilateral "free trade" agreements.

a) Alfred Marshall correct incorrect

b) Jagdish Bhagwati correct incorrect

c) John Maynard Keynes correct incorrect

d) Donald McNally correct incorrect

e) Michel Foucault correct incorrect

* not completed

. ________ believed that free trade must be understood as an ideological tool designed to ensure the "hegemonic" dominance of the world system by the elites in northern countries.

a) Francis Focuyama correct incorrect

b) Antony Giddens correct incorrect

c) Antonio Gramsci correct incorrect

d) Walt Rostow correct incorrect

e) Tony Graham correct incorrect

* not completed

. In the 1950s, international agreements under the oversight of the United Nations were signed from major commodities. ________ was not one of these commodities.

a) Rubber correct incorrect

b) Tin correct incorrect

c) Sugar correct incorrect

d) Aluminum correct incorrect

e) Coffee correct incorrect

* not completed

. ________ is the number-one purchaser of major goods, from cars and pork to timber, gold, and crude oil.

a) China correct incorrect

b) The United States correct incorrect

c) Brazil correct incorrect

d) India correct incorrect

e) Russia correct incorrect

* not completed

. The Foxconn Research Group, composed of researches in China, Hong Kong, and Taiwan, conducted an investigation into ________.

a) the economic growth of the South correct incorrect

b) billionaires' success correct incorrect

c) free trade work settings correct incorrect

d) labour conditions correct incorrect

e) all of the above correct incorrect

* not completed

. Comparative advantage refers to a state's ability to trade effectively.

a) True correct incorrect

b) False correct incorrect

* not completed

. Power/knowledge regimes, such as the free trade discourse, serve to naturalize and legitimize the current world order.

a) True correct incorrect

b) False correct incorrect

* not completed

. The theory of unequal exchange argues that developing countries cannot gain from comparative advantage through international trade because the money earned from exporting primary commodities will always be less than the cost of importing industrial goods from the North.

a) True correct incorrect

b) False correct incorrect

* not completed

. According to fair trade supporters, markets have always been regulated to some extent.

a) True correct incorrect

b) False correct incorrect

* not completed

. The International Coffee Agreement (ICA) is a successful example of regulating international prices.

a) True correct incorrect

b) False correct incorrect

* not completed

. The World Trade Organization (WTO) adopts a fair trade perspective.

a) True correct incorrect

b) False correct incorrect

* not completed

. The fair trade perspective has been optimistic about the possibilities of a win-win situation in international trade.

a) True correct incorrect

b) False correct incorrect

* not completed

. The first United Nations Conference on Trade and Development (UNCTAD) in 1964 saw a call for "aid not trade."

a) True correct incorrect

b) False correct incorrect

* not completed

. The period of embedded liberalism (1960s to 1980s) saw more improvement on human development indicators than the era of neoliberal free trade (1980s onward).

a) True correct incorrect

b) False correct incorrect

* not completed

. The 1963 International Coffee Agreement (IFA) failed to significantly regulate coffee prices on world markets.

a) True correct incorrect

b) False correct incorrect

* not completed

. The national development of southern countries is restricted and distorted by the unequal exchange of lower-priced primary commodities.

a) True correct incorrect

b) False correct incorrect

* not completed

. It is wrong to assume that structural adjustment policies were the powerful mechanisms for the expansion of free trade policies over the developing countries.

a) True correct incorrect

b) False correct incorrect

* not completed

. From 1980, an array of labour, environmental, indigenous, human rights, and women's groups actively supported free trade policies.

a) True correct incorrect

b) False correct incorrect

* not completed

. The onset of the global economic recession at the start of 2008 reignited debate on the pitfalls of unregulated markets and has given new impetus to advocates for regulated fair trade mechanisms.

a) True correct incorrect

b) False correct incorrect

* not completed

. Perhaps one of the most unpredictable events to have occurred in the past decade or so has been the "Rise of the South."

a) True correct incorrect

b) False correct incorrect