A. bilateral tariff reductions to promote trade liberalization
B. the use of the most-favored nation clause (normal trade relations)
C. nondiscrimination in trading relationships
D. the prohibition of import quotas and export quotas
Related Mcqs:
- The World Trade Organization is sometimes criticized for all of the following reasons except?
A. it reduces the sovereignty of member countries
B. favors free trade over the quality of the environment
C. it has no way to solve trade disputes among member countries
D. it is a puppet of multinational corporations - Which round of international trade negotiations resulted in the creation of the World Trade Organization ?
A. Kennedy Round of 1964-1967
B. Tokyo Round of 1973-1979
C. Uruguay Round of 1986-1993
D. Doha Round of 2003-2007 - When did World Trade Organization replace General Agreement on Tariffs and Trade (GATT)?
A. 1st January 1995
B. 1st January 1998
C. 1st December 1999
D. 1st June 2000Submitted by: Syed Nizakat Ali Shah
- When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?
A. trade diversion
B. trade channeling
C. trade creation and trade diversion
D. trade creation - Following World War II the United States and other countries sought to liberalize trade among each other the first major postwar step toward trade liberalization was the ?
A. General Agreement on Tariffs and Trade
B. World Trade Organization
C. Smoot Hawley Organization
D. McKinley Agreement on Trade policy - With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
A. 1,600 computers, decrease, increase
B. 1,600 computers, increase, decrease
C. 1,200 computers, decrease, increase
D. 1,200 computers, increase, decrease - With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?
A. 20 calculators increase
B. 25 calculators decrease
C. 25 calculators increase
D. 30 calculators increase - Membership in the World Trade Organization for china ?
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 - All of the following are trade problems of developing countries except?
A. unstable export markets
B. improving terms of trade
C. limited access to the markets of industrial countries
D. highly elastic demand curves for their products - Concerning a government’s trade policy, all the following generally apply except ?
A. economic downturn and recession generally result in greater protectionism
B. because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:
C. When domestic exporting companies are organized, policy tends to favor freer trade
D. Policy tends to favor freer trade in countries whose imports are inputs into critical industries
