A. the prices of the goods they imported were falling
B. the price of goods they exported were increasing
C. their terms of trade were deteriorating
D. their terms of trade were improving
Related Mcqs:
- In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?
A. Px/Pm
B. Pm/Px
C. (Pm/Px)Qm
D. (Px/Pm)Qx - Import substitution is an example of ?
A. the principle of comparative advantage
B. the principle of absolute advantage
C. an outward-looking growth strategy
D. an inward-looking growth strategy - Import substitution is the replacement of ____ by domestic production _____ protection of ________?
A. exports, subsidies
B. exports, patents
C. imports, high tariffs or import quotas
D. imports, subsidies - 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 - Similar to import tariffs import quotas tend to result in ?
A. higher prices and reduced imports
B. increased government revenue
C. increased consumer surplus
D. decrease producer surplus - A comparison of Japan’s policies before 1945 with the policies in effect after 1945 indicates that______________?
A. reduction in spending on military goods leads to economic depression
B. dependence on foreign trade usually leads to a weakened national economy
C. territorial aggression is not necessary to secure national economic goals
D. democratic institution hinder economic growth - Developing countries, if compared with other countries, have ?
A. a lower rate of illiteracy
B. a greater degree of equality in the income distribution
C. a lower infant mortality rate
D. a smaller percentage of the labor force in urban areas - Hong Kong and South Korea are examples of developing nations that have recently pursued ________ industrialization policies?
A. import substitution
B. export promotion
C. commercial dumping
D. multilateral contract - ________ is the practice of adopting policies and developing strategies that both sustain the environment and produce profits for the company ?
A. Environmentalism
B. Environmental sustainability
C. Consumerism
D. Consumer accountability - A widely used indicator to differentiate developed countries from developing countries is ?
A. international trade per capita
B. real income per capital
C. unemployment per capita
D. calories per capita
