A. General Agreement on Tariffs and Trade
B. World Trade Organization
C. Smoot Hawley Organization
D. McKinley Agreement on Trade policy
Related Mcqs:
- The institutional framework developed in 1947 to promote trade liberalization is known sa?
A. the WTO
B. the GATT
C. the IMF
D. the World Bank - Suppose that tomatoes from Mexico face a 20 percent tariff in the United States and a 25 percent tariff in Canada. If the United States and Canada maintain free trade between each other, the these two countries belong to a ?
A. free-trade area
B. customs union
C. common market
D. monetary union - 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 - Economic development in Japan after World War II and in Communist China since the 1980s in similar in that both nations have sought to ?
A. end foreign investment
B. develop their vast natural resources to achieve economic growth
C. utilize the concepts of capitalism to improve their economies
D. nationalize most major industries and restrict competition - Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
A. purchase; decrease
B. purchase; increase
C. sell; increase
D. sell; decrease - Major trading partners of the United States including all of the following countries except ?
A. Canada
B. Mexico
C. China
D. North Korea - According to the trade theory of Staffan Linder trade tends to be most pronounced in manufactured goods when trading countries have ?
A. similar endowments of natural resources
B. similar levels of technology
C. similar per-capita incomes
D. similar wage levels - Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?
A. relatively high; relatively large
B. relatively high; relatively small
C. relatively low ; relatively large
D. relatively low ; relatively small - The shift toward imperfectly competitive markets in domestic and international trade the concept of ?
A. official exchange rates
B. complete currency pass through
C. exchange arbitrage
D. trade adjustment assistance - For the first time since World War I, in the mid-1980s the United States became a net international ?
A. exporter
B. importer
C. debtor
D. creditor
