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7 Questions

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The Economic Impact of Trade Policies

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Questions and Answers

What does PNTR stand for?

People's National Trade Regulations

Production and Trade Negotiation Rights

Public and National Trade Rights

Permanent Normal Trade Relations (correct)

What is FDI?

An investment made by a company in another country to control or influence its operations (correct)

An agreement between two countries to increase trade

A type of trade policy

A type of import tax

What did the US not do before adopting trade policies?

Consult with other countries

Consider environmental impacts

Analyze job and wage effects (correct)

Evaluate consumer demand

What was the purpose of the pilot study mentioned in the text?

To analyze the economic impact of trade with China on US employment, wages, and FDI Signup and view all the answers

What happened to production shifts from the US to China after the approval of PNTR?

They accelerated Signup and view all the answers

How many jobs were estimated to be lost through production shifts to China?

34,900 Signup and view all the answers

What is the estimated number of jobs lost to production shifts to China and Mexico each year?

Between 70,000 and 100,000 Signup and view all the answers

Study Notes

PNTR removes tariffs on US imports from selected countries.
China was granted PNTR status in 2000.
FDI is an investment made by a company in another country to control or influence its operations.
FDI involves management and operation of a company.
The US did not analyze job and wage effects of trade policies before adoption.
A pilot study was conducted on the economic impact of trade with China on US employment, wages, and FDI.
The study had two components: media tracking and macroeconomic data collection and analysis.
Production shifts from the US to China accelerated after the approval of PNTR.
34,900 jobs were estimated to be lost through production shifts to China.
The actual number of jobs lost to production shifts to China and Mexico is estimated to be between 70,000 and 100,000 each year for each country.

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Description

Take this quiz to test your knowledge on the economic impact of trade policies, particularly the Permanent Normal Trade Relations (PNTR) status granted to China in 2000. Learn about Foreign Direct Investment (FDI) and its effects on job and wage trends in the US. Discover the results of a pilot study conducted on the economic impact of trade with China on US employment, wages, and FDI. Find out how production shifts from the US to China have affected job loss estimates. Test your understanding