Trade Policies For the Developing Nations

A. 2 million barrels per day, $100, $60 million
B. 4 million barrels per day, $80, $160 million
C. 6 million barrels per day, $60, $60 million
D. 8 million barrels per day, $40, $20 million

A. lower
B. higher
C. about the same height
D. None of the above

A. has been a matter of low priority for the Chinese government
B. was achieved in the early 1950s
C. has been opposed by a number of labor and human rights organizations in other countries
D. has had negligible effect on trade between china and the United States

A. flying geese
B. import substitution
C. export orientation
D. commodity expansion

A. inelastic demand for these products in advanced countries
B. large increases in the supplies of these products on world markets because of export expansion policies
C. sluggish demand for these products in advanced countries
D. All of the above

A. relatively small; more difficult
B. relatively small; easier
C. relatively large; more difficult
D. relatively large; easier

A. relatively greater then
B. relatively less than
C. the same as
D. any of the above

A. Px/Pm
B. Pm/Px
C. (Pm/Px)Qm
D. (Px/Pm)Qx

A. absolute advantage
B. comparative advantage
C. export-led growth
D. import substitution

A. resource allocation based on the principle of absolute advantage
B. resource allocation based on the principle of comparative advantage
C. trade protection for import-competing firms
D. trade protection for exporting-competing firms