Question 1 A primary purpose of the International Monetary Fund is to promote ma

Question

Question 1

A primary purpose of the International Monetary Fund is to promote macroeconomic stability through measures such as

encouraging or financing stimulus spending

Currency exchange agreements

Standards for reserves in gold and currency

All of the above

Question 2

Among the primary reasons that US corporations move their manufacturing abroad is

More stringent environmental laws

Cheaper labor

Better educated workforces

More land for development

  

Question 3

(Chapter 4) Bretton Woods is referred to as an economic regime because

it laid out a comprehensive monetary policy plan for global stability

it established a single global authority for monetary policy

it was backed by the United Nations

it involved international organizations

1 points

Question 4

Bretton Woods was the world’s first real attempt to

Establish a global political authority

Establish ways to stabilize the global economy

Bring peace through negotiations

End World War II

1 points

Question 5

Import substitution is a strategy of

Producing for domestic markets

Importing goods rather than producing them domestically

Relying on trade to balance supply and demand

Building a money supply through trade

1 points

Question 6

In the United States, among the 20 fastest growing occupations, more jobs will be created that are

Below middle class income than above

Are above middle class income than below

Equally divided among high paying and low paying jobs

None of the above

1 points

Question 7

Neo liberal economic policy relies heavily on

Government to manage economic stability

Freedom of the market

Import substitution

The IMF for macroeconomic stability

1 points

Question 8

Off shoring refers to

hiring another company to do some production processes

sending work to another country

sending work to another firm in another country

hiring temporary employees from another country

1 points

Question 9

One of the conditions of acquiring loans imposed by the IMF and World Bank was

privatization of many industries and infrastructure development

Government take-over of key industries such as oil and gas

Rigid trade barriers to protect domestic markets

More regulation over the markets

1 points

Question 10

One of the problems facing developing countries following independence was

Elite power and rule

Corruption in government

Underdeveloped educational and other infrastructure

All of the above

1 points

Question 11

Service industry jobs are ____

Primarily high income jobs that require high educations

Primarily low income jobs that require low levels of education

Both high and low income jobs

Jobs that are easily shipped overseas

1 points

Question 12

The countries with the largest percentages of their GNP from primary industry are ____

Among the poorest societies

Among the middle class societies

Among the richest societies

Found equally among poor, middle, and high income countries

1 points

Question 13

The job that a company is least likely to be shipped overseas is

accounting

information technology

personal care or health care aide

manufacturing

1 points

Question 14

Toward the end of WWII, world leaders recognized that global political stability depended on

economic prosperity of all nations

having a single world leader or hegemon

spreading democracy across the world

spreading capitalism across the world

1 points

Question 15

When multinationals open production facilities in developed nations they are usually seeking

Cheaper labor

Less stringent environmental laws

New markets

Raw materials

a)

encouraging or financing stimulus spending

b)

Currency exchange agreements

c)

Standards for reserves in gold and currency

d)

All of the above

Explanation / Answer

Ans 1)

All of the above options are correct ..Option D

IMF functions mainnly are 1) Exchage rate stability 2) Elimination of BOP disequilibrium 3) Mainitaining Global Liquidity 3) To enable monitoring and functioning of SDR etc.

Ans 2)

It works on comaprative advantage basis .One of the factors of production is cheaper abroad that is labor hence option 2 is correct response

Ans 8)

OffShoring means shifting work overseas that was done domestically before hence option C is correct response

Ans 9)

Service industry is kinf of inporting services from overseas which is done much easily than other industries hence woek can be sent overseas easily

Option D is correct response

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