7 ) The insight that patterns of trade are primarily determined by international differences in labor productivity was first proposed by A) Adam Smith. B) David Hume. C) David Ricardo. D) Eli Heckscher. E) Lerner and Samuelson. Question Status: New 8 ) Since the mid 1940s, the United States, has pursued a broad policy of A) strengthening "Fortress America" protectionism. B) removing barriers to international trade. C) isolating Iran and other axes of evil. D) protecting the U.S. from the economic impact of oil producers. E) None of the above. Question Status: New 9 ) For the 50 years preceding 1994, international trade policies have been governed A) by the World Trade Organization. B) by the International Monetary Fund. C) by the World. D) by an international treaty known as the General Agreement on Tariffs and Trade (GATT). E) None of the above. Question Status: New 10 ) Since 1994, trade rules have been enforced by A) the WTO. B) the G10. C) the GATT. D) The U.S. Congress. E) None of the above. Question Status: New 11 ) International Economists cannot discuss the effects of international trade or recommend changes in government policies toward trade with any confidence unless they know A) their theory is the best available. B) their theory is internally consistent. C) their theory passes the "reasonable person" legal criteria. D) their theory is good enough to explain the international trade that is actually observed. E) None of the above. Question Status: New Question Status: New 1.2 International Economics: Trade and Money 1) Cost - benefit analysis of international trade A) is basically useless. B) is empirically intractable. C) focuses attention primarily on conflicts of interest within countries. D) focuses attention on conflicts of interests between countries. E) None of the above. Question Status: Previous Edition 2 ) The GATT was A) an international treaty. B) an international U.N. agency. C) an international IMF agency. D) a U.S. government agency. E) a collection of tariffs. Question Status: Previous Edition 3 ) International economics can be divided into two broad sub - fields A) macro and micro. B) developed and less developed. C) monetary and barter. D) international trade and international money. E) static and dynamic. Question Status: Previous Edition