Econ 340 Alan Deardorff Winter Term 2014 Institutions Study Questions Page 1 of 4 Study Questions Lecture 2 Institutions of the International Economy Part 1: Multiple Choice Select the best answer of those given. 1. Which of the following is not one of the international economic institutions that were created at the end of World War II? a. International Monetary Fund b. International Bank for Reconstruction and Development c. General Agreement on Tariffs and Trade d. World Trade Organization e. World Bank 2. During the half century since the end of World War II, a. The major currencies of the world, which initially had flexible exchange rates, have become fixed. b. The World Bank has switched from providing assistance to poor countries to primarily settling transactions among rich countries. c. The GATT has been transformed into the WTO. d. The IMF has changed from being a members-only bank to being a mutual fund for investment in emerging-economy stock markets. e. Tariffs levied by developed countries against developing-country exports have increased. 3. Which of the following was the name of one of the GATT negotiating rounds? a. NAFTA b. Wilbur c. Nixon d. Seattle e. UruguayEcon 340 Alan Deardorff Winter Term 2014 Institutions Study Questions Page 2 of 4 4. Which of the following is not an example of an international public good? a. Open markets in a recession b. Capital flows to less-developed countries c. Money for settlement of international debts d. Coordination of last resort lending e. Exploration for new oil deposits 5. Near the end of World War II, the architecture of the postwar economic environment was constructed at a conference of the major Western powers held at? a. Geneva, Switzerland b. Bretton Woods, New Hampshire c. New York City d. Versailles, France e. Stratford on Avon, England 6. How many countries are member of the G-20? a. 7 b. 8 c. 19 d. 20 e. 24Econ 340 Alan Deardorff Winter Term 2014 Institutions Study Questions Page 3 of 4 7. What, according to the assigned article by Donnan about the December 2013 WTO Ministerial Meeting, is meant by “trade facilitation”? a. Export subsidies b. Import subsidies c. A package to help businesses get their products through borders more easily d. Reform of export credit facilities e. Expansion of national export-import banks 8. Which of the following countries is not currently negotiating to be part of the Trans-Pacific Partnership? a. Brunei b. United States c. Chile d. China e. Malaysia Part II: Short Answer Answer in the space provided. 1. Define the following terms: a. Conditionality b. National Treatment c. Free Riding d. G-7Econ 340 Alan Deardorff Winter Term 2014 Institutions Study Questions Page 4 of 4 2. What was the Marshall Plan? 3. Who, according to a graphic shown in lecture, are “the Three Stooges of Corporate Folly”? 4. What is the current status of the Doha Development Round? 5. What do the following acronyms stand for? a. MFN b. ITO c. WIPO d. GATT e. SDR f.
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