Question 1

A(n) ________ is a duty specifically levied to offset a subsidy.

Accepted Answer

A)  countervailing measure 
B)  customs duty 
C)  safeguarding measure 
D)  excise duty 
A)  countervailing measure 
B)  customs duty 
C)  safeguarding measure 
D)  excise duty

Question 2

Which of the following best describes direct effect?

Accepted Answer

A)  It is the making of a decision by general agreement and in the absence of any voiced objection. 
B)  It is the relinquishment of an obligation owed by another. 
C)  It is a principle whereby a treaty may be invoked by a private person to challenge the actions of a state that is a party to the treaty. 
D)  It is a principle that governments must make their rules, regulations, and practices open and accessible to the public and other governments. 
A)  It is the making of a decision by general agreement and in the absence of any voiced objection. 
B)  It is the relinquishment of an obligation owed by another. 
C)  It is a principle whereby a treaty may be invoked by a private person to challenge the actions of a state that is a party to the treaty. 
D)  It is a principle that governments must make their rules, regulations, and practices open and accessible to the public and other governments.

Question 3

The term "safeguard" refers to the relinquishment of an obligation owed by another.

Accepted Answer

A) True 
 B)False

Question 4

Nonactionable subsidies are also known as yellow subsidies.

Accepted Answer

A) True 
 B)False

Question 5

________ are situations that excuse a WTO member state from complying with its GATT obligations when those are in conflict with its essential security interests or its duties under the United Nations Charter.

Accepted Answer

A)  Harmonized Systems 
B)  General exceptions 
C)  Safeguards 
D)  Security exceptions 
A)  Harmonized Systems 
B)  General exceptions 
C)  Safeguards 
D)  Security exceptions

Question 6

________ are voluntary guidelines that specify the same things that technical regulations mandatorily specify.

Accepted Answer

A)  Standards 
B)  Safeguards 
C)  Rules of origin 
D)  Conformity assessment procedures 
A)  Standards 
B)  Safeguards 
C)  Rules of origin 
D)  Conformity assessment procedures

Question 7

________ is the customs value of goods that is determined by using whichever of the other methods best fit and adjusting it to the particular circumstances.

Accepted Answer

A)  Transaction value 
B)  Deductive value 
C)  Computed value 
D)  Derived value 
A)  Transaction value 
B)  Deductive value 
C)  Computed value 
D)  Derived value

Question 8

Which of the following terms refers to the relinquishment of an obligation owed by another?

Accepted Answer

A)  social referencing 
B)  consensus 
C)  waiver 
D)  direct effect 
A)  social referencing 
B)  consensus 
C)  waiver 
D)  direct effect

Question 9

The provisions of GATT that prohibit a state from taking action contrary to the General Agreement are directly effective.

Accepted Answer

A) True 
 B)False

Question 10

________ is the customs value of goods that is based on their price calculated from the cost of manufacture, overhead, and handling.

Accepted Answer

A)  Transaction value 
B)  Deductive value 
C)  Computed value 
D)  Derived value 
A)  Transaction value 
B)  Deductive value 
C)  Computed value 
D)  Derived value

Question 11

What was the significance of the Uruguay Round of the GATT?

Accepted Answer

The Uruguay Round (1986-1994) brought ab

Question 12

________ is the customs value of imported goods that is based on the price actually paid for similar goods by unrelated persons in the importing country at about the same time.

Accepted Answer

A)  Transaction value 
B)  Deductive value 
C)  Computed value 
D)  Derived value 
A)  Transaction value 
B)  Deductive value 
C)  Computed value 
D)  Derived value

Question 13

Products obtained by extraction or harvest that require minimal processing before being used are called ________.

Accepted Answer

A)  core products 
B)  secondary resources 
C)  augmented products 
D)  primary commodities 
A)  core products 
B)  secondary resources 
C)  augmented products 
D)  primary commodities

Question 14

A(n) ________ is a subsidy that is presumed to be trade distorting because it requires export performance or is contingent upon the use of domestic instead of imported goods.

Accepted Answer

A)  nonactionable subsidy 
B)  consumption subsidy 
C)  actionable subsidy 
D)  prohibited subsidy 
A)  nonactionable subsidy 
B)  consumption subsidy 
C)  actionable subsidy 
D)  prohibited subsidy

Question 15

Even after a free trade area or customs union is established, GATT rules apply to the constituent states, and not to the area or union as a whole.

Accepted Answer

A) True 
 B)False

Question 16

The ________ is a GATT scheme that allows developing states to grant tariff preferences to each other without having to grant them to developed states.

Accepted Answer

A)  National treatment rule 
B)  Generalized System of Preferences 
C)  South-South Preferences 
D)  Escape clause 
A)  National treatment rule 
B)  Generalized System of Preferences 
C)  South-South Preferences 
D)  Escape clause

Question 17

Selling exported goods at prices below their normal value is called subsidizing.

Accepted Answer

A) True 
 B)False

Question 18

________ are situations that excuse a WTO member state from complying with its GATT obligations in order for the state to protect certain essential public policy objectives.

Accepted Answer

A)  Harmonized Systems 
B)  General exceptions 
C)  Safeguards 
D)  Security exceptions 
A)  Harmonized Systems 
B)  General exceptions 
C)  Safeguards 
D)  Security exceptions

Question 19

The Kennedy Round produced an agreement on anti-dumping.

Accepted Answer

A) True 
 B)False

Question 20

Explain the Wassenaar Arrangement.

Accepted Answer

In July 1996, 33 countries-including Can

A(n) ________ is a duty specifically levied to offset a subsidy.

Which of the following best describes direct effect?

The term "safeguard" refers to the relinquishment of an obligation owed by another.

Nonactionable subsidies are also known as yellow subsidies.

________ are situations that excuse a WTO member state from complying with its GATT obligations when those are in conflict with its essential security interests or its duties under the United Nations Charter.

________ are voluntary guidelines that specify the same things that technical regulations mandatorily specify.

________ is the customs value of goods that is determined by using whichever of the other methods best fit and adjusting it to the particular circumstances.

Which of the following terms refers to the relinquishment of an obligation owed by another?

The provisions of GATT that prohibit a state from taking action contrary to the General Agreement are directly effective.

________ is the customs value of goods that is based on their price calculated from the cost of manufacture, overhead, and handling.

What was the significance of the Uruguay Round of the GATT?

________ is the customs value of imported goods that is based on the price actually paid for similar goods by unrelated persons in the importing country at about the same time.

Products obtained by extraction or harvest that require minimal processing before being used are called ________.

A(n) ________ is a subsidy that is presumed to be trade distorting because it requires export performance or is contingent upon the use of domestic instead of imported goods.

Even after a free trade area or customs union is established, GATT rules apply to the constituent states, and not to the area or union as a whole.

The ________ is a GATT scheme that allows developing states to grant tariff preferences to each other without having to grant them to developed states.

Selling exported goods at prices below their normal value is called subsidizing.

________ are situations that excuse a WTO member state from complying with its GATT obligations in order for the state to protect certain essential public policy objectives.

The Kennedy Round produced an agreement on anti-dumping.

Explain the Wassenaar Arrangement.

Introduction to International and Comparative Law

State Responsibility and Environmental Regulation

Dispute Settlement

The Multinational Enterprise

Foreign Investment

Money and Banking

Services and Labor

Intellectual Property

Sales

Transportation

Financing

Filters

Exam 7: Trade in Goods

A(n) ________ is a duty specifically levied to offset a subsidy.

Which of the following best describes direct effect?

The term "safeguard" refers to the relinquishment of an obligation owed by another.

Nonactionable subsidies are also known as yellow subsidies.

________ are situations that excuse a WTO member state from complying with its GATT obligations when those are in conflict with its essential security interests or its duties under the United Nations Charter.

________ are voluntary guidelines that specify the same things that technical regulations mandatorily specify.

________ is the customs value of goods that is determined by using whichever of the other methods best fit and adjusting it to the particular circumstances.

Which of the following terms refers to the relinquishment of an obligation owed by another?

The provisions of GATT that prohibit a state from taking action contrary to the General Agreement are directly effective.

________ is the customs value of goods that is based on their price calculated from the cost of manufacture, overhead, and handling.

What was the significance of the Uruguay Round of the GATT?

________ is the customs value of imported goods that is based on the price actually paid for similar goods by unrelated persons in the importing country at about the same time.

Products obtained by extraction or harvest that require minimal processing before being used are called ________.

A(n) ________ is a subsidy that is presumed to be trade distorting because it requires export performance or is contingent upon the use of domestic instead of imported goods.

Even after a free trade area or customs union is established, GATT rules apply to the constituent states, and not to the area or union as a whole.

The ________ is a GATT scheme that allows developing states to grant tariff preferences to each other without having to grant them to developed states.

Selling exported goods at prices below their normal value is called subsidizing.

________ are situations that excuse a WTO member state from complying with its GATT obligations in order for the state to protect certain essential public policy objectives.

The Kennedy Round produced an agreement on anti-dumping.

Explain the Wassenaar Arrangement.

Introduction to International and Comparative Law

State Responsibility and Environmental Regulation

Dispute Settlement

The Multinational Enterprise

Foreign Investment

Money and Banking

Services and Labor

Intellectual Property

Sales

Transportation

Financing

Filters