The Economics of Globalization and Protectionism Quiz
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Questions and Answers

What is one of the adverse effects of global protectionism mentioned in the text?

  • Rise of China in world trade
  • Increased trade openness rate
  • Multilateral negotiations at a standstill
  • Risk of 'tariff jumping' (correct)
  • What is the 'China shock' referred to in the text?

  • Lack of domestic substitutes due to protectionism
  • Costly policy for households
  • Effect on employment and wages in the US from 2000-2015 (correct)
  • Rise of China in world trade
  • What is one of the criticisms of global protectionism mentioned in the text?

  • Lack of multilateral negotiations
  • Constant trade openness rate
  • Rise of China in world trade
  • Retaliation based on game theory (correct)
  • What is the current status of multilateral negotiations according to the text?

    <p>At a standstill (Doha Round)</p> Signup and view all the answers

    What does Mundell's theorem (1957) relate to in the context of global protectionism?

    <p>Risk of 'tariff jumping'</p> Signup and view all the answers

    What is the 'China shock' referred to in the text?

    <p>The impact of China's rise on the US labor market from 2000-2015</p> Signup and view all the answers

    What is one of the adverse effects of global protectionism mentioned in the text?

    <p>Risk of 'tariff jumping' according to Mundell's theorem</p> Signup and view all the answers

    What does Mundell's theorem (1957) relate to in the context of global protectionism?

    <p>Impact of tariffs on international trade and production relocation</p> Signup and view all the answers

    What is the current status of multilateral negotiations according to the text?

    <p>Stalled at a standstill, particularly the Doha Round at the WTO</p> Signup and view all the answers

    What is one of the criticisms of global protectionism mentioned in the text?

    <p>Lack of domestic substitutes</p> Signup and view all the answers

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