Question 1

Which round of GATT first addressed subsidies?

Accepted Answer

The Tokyo Round

Question 2

Which of the following is TRUE?

Accepted Answer

A) A country experiencing a debt or currency crisis would contact the World Trade Organization. 
B) The World Trade Organization was formed at the Bretton Woods conference. 
C) The General Agreement on Tariffs and Trade created the World Trade Organization in the negotiations and treaty known as the Uruguay Round. 
D) The World Trade Organization has no power to resolve trade disputes and to enforce their resolution. 
A) A country experiencing a debt or currency crisis would contact the World Trade Organization. 
B) The World Trade Organization was formed at the Bretton Woods conference. 
C) The General Agreement on Tariffs and Trade created the World Trade Organization in the negotiations and treaty known as the Uruguay Round. 
D) The World Trade Organization has no power to resolve trade disputes and to enforce their resolution. C

Question 3

Many of the important international governmental institutions that deal with the global economy have their roots in the Bretton Woods conference at the end of World War II.

Accepted Answer

A) True 
 B)False  True

Question 4

Which of the following is FALSE?

Accepted Answer

A) National sovereignty limits outsiders' ability to change the trade laws and practices of individual nation states. 
B) Because of international recognition of national sovereignty,individual nations are unaffected by global trade and capital flows. 
C) Foreign investors may not have a legal right to impose policies on a nation state,but the nation state may still experience consequences of poor policies. 
D) Because trade policies are laws of individual nations,it is difficult for other nations and international organizations to force changes on unwilling nation states. 
A) National sovereignty limits outsiders' ability to change the trade laws and practices of individual nation states. 
B) Because of international recognition of national sovereignty,individual nations are unaffected by global trade and capital flows. 
C) Foreign investors may not have a legal right to impose policies on a nation state,but the nation state may still experience consequences of poor policies. 
D) Because trade policies are laws of individual nations,it is difficult for other nations and international organizations to force changes on unwilling nation states.

Question 5

Most favored nation (MFN)status means that a country treats another country

Accepted Answer

A) better than its other trading partners. 
B) the same as its other trading partners. 
C) worse than its other trading partners. 
D) any way it chooses since it is the "most favored nation." 
E) None of the above. 
A) better than its other trading partners. 
B) the same as its other trading partners. 
C) worse than its other trading partners. 
D) any way it chooses since it is the "most favored nation." 
E) None of the above.

Question 6

Which of the following is NOT a criticism of international institutions such as the IMF,the World Bank,or the WTO?

Accepted Answer

A) They lack openness in their decision-making process. 
B) They violate national sovereignty by imposing unwanted domestic policies. 
C) They fail to understand the effects of their policies on the vulnerable. 
D) Their decision making is biased in favor of underdeveloped nations and against the interests of nations already industrialized. 
E) They ignore potentially large adjustment costs for developing nations of implementing their policies. 
A) They lack openness in their decision-making process. 
B) They violate national sovereignty by imposing unwanted domestic policies. 
C) They fail to understand the effects of their policies on the vulnerable. 
D) Their decision making is biased in favor of underdeveloped nations and against the interests of nations already industrialized. 
E) They ignore potentially large adjustment costs for developing nations of implementing their policies.

Question 7

The original mission of the World Bank was to

Accepted Answer

A) provide capital to underdeveloped countries. 
B) provide capital to firms around the world. 
C) provide financial assistance for the reconstruction of war-damaged nations. 
D) provide a safe place for people around the world to put their money. 
E) help countries manage their exchange rates. 
A) provide capital to underdeveloped countries. 
B) provide capital to firms around the world. 
C) provide financial assistance for the reconstruction of war-damaged nations. 
D) provide a safe place for people around the world to put their money. 
E) help countries manage their exchange rates.

Question 8

An important function of international institutions during times of crisis is to

Accepted Answer

A) make goods nonrival. 
B) make goods nonexcludable. 
C) prevent free riding. 
D) prevent nondiscrimination. 
E) encourage free riding. 
A) make goods nonrival. 
B) make goods nonexcludable. 
C) prevent free riding. 
D) prevent nondiscrimination. 
E) encourage free riding.

Question 9

A free trade agreement plus a common set of tariffs toward non-members is called

Accepted Answer

A) a common market. 
B) a customs union. 
C) a free trade area. 
D) an economic union. 
E) a partial trade agreement. 
A) a common market. 
B) a customs union. 
C) a free trade area. 
D) an economic union. 
E) a partial trade agreement.

Question 10

What result of the Uruguay Round was the most significant for global trade?

Accepted Answer

The creati

Question 11

The primary mission of the World Bank today is to

Accepted Answer

A) provide capital to underdeveloped countries. 
B) provide capital to firms around the world. 
C) provide financial assistance for the reconstruction of war-damaged nations. 
D) provide a safe place for people around the world to put their money. 
E) help countries manage their exchange rates. 
A) provide capital to underdeveloped countries. 
B) provide capital to firms around the world. 
C) provide financial assistance for the reconstruction of war-damaged nations. 
D) provide a safe place for people around the world to put their money. 
E) help countries manage their exchange rates.

Question 12

The World Bank formed the World Trade Organization when it became clear that to alleviate poverty in developing nations,agricultural trade barriers were going to have to be reduced.

Accepted Answer

A) True 
 B)False

Question 13

Describe the primary functions of the World Bank,the IMF,and the WTO.When was each of these organizations formed?

Accepted Answer

The IMF and the World Bank were outlined

Question 14

From the late 1940s until the creation of the WTO,the organization that was primarily responsible for conducting rounds of trade negotiations was the

Accepted Answer

A) World Bank. 
B) IMF. 
C) ITO. 
D) United Nations. 
E) GATT. 
A) World Bank. 
B) IMF. 
C) ITO. 
D) United Nations. 
E) GATT.

Question 15

Which round of GATT led to the formation of the WTO?

Accepted Answer

The answer of Which round of GATT led to the...

Question 16

Trade policies in which industries have been the most contentious in the Doha Round?

Accepted Answer

Agricultur

Question 17

Having MFN status means that the country is getting the most favorable trade terms possible with a trading partner.

Accepted Answer

A) True 
 B)False

Question 18

Describe the potential benefits and the potential costs to global trade of the tremendous growth in regional trade agreements.

Accepted Answer

A regional trade agreement creates prefe

Question 19

Which of the following is NOT a feature of a common market?

Accepted Answer

A) Substantial coordination of macroeconomic policies among the members 
B) Free trade in goods and services between the members 
C) Common external barriers to trade 
D) Factor mobility 
A) Substantial coordination of macroeconomic policies among the members 
B) Free trade in goods and services between the members 
C) Common external barriers to trade 
D) Factor mobility

Question 20

MFN status means that a trading partner is getting the best trade deal possible given current national trade policies.

Accepted Answer

A) True 
 B)False

Which round of GATT first addressed subsidies?

Which of the following is TRUE?

Many of the important international governmental institutions that deal with the global economy have their roots in the Bretton Woods conference at the end of World War II.

Which of the following is FALSE?

Most favored nation (MFN)status means that a country treats another country

Which of the following is NOT a criticism of international institutions such as the IMF,the World Bank,or the WTO?

The original mission of the World Bank was to

An important function of international institutions during times of crisis is to

A free trade agreement plus a common set of tariffs toward non-members is called

What result of the Uruguay Round was the most significant for global trade?

The primary mission of the World Bank today is to

The World Bank formed the World Trade Organization when it became clear that to alleviate poverty in developing nations,agricultural trade barriers were going to have to be reduced.

Describe the primary functions of the World Bank,the IMF,and the WTO.When was each of these organizations formed?

From the late 1940s until the creation of the WTO,the organization that was primarily responsible for conducting rounds of trade negotiations was the

Which round of GATT led to the formation of the WTO?

Trade policies in which industries have been the most contentious in the Doha Round?

Having MFN status means that the country is getting the most favorable trade terms possible with a trading partner.

Describe the potential benefits and the potential costs to global trade of the tremendous growth in regional trade agreements.

Which of the following is NOT a feature of a common market?

MFN status means that a trading partner is getting the best trade deal possible given current national trade policies.

The United States in a Global Economy

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

The Bric Countries in the World Economy

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Exam 2: International Economic Institutions Since World War Ii

Which round of GATT first addressed subsidies?

Which of the following is TRUE?

Many of the important international governmental institutions that deal with the global economy have their roots in the Bretton Woods conference at the end of World War II.

Which of the following is FALSE?

Most favored nation (MFN)status means that a country treats another country

Which of the following is NOT a criticism of international institutions such as the IMF,the World Bank,or the WTO?

The original mission of the World Bank was to

An important function of international institutions during times of crisis is to

A free trade agreement plus a common set of tariffs toward non-members is called

What result of the Uruguay Round was the most significant for global trade?

The primary mission of the World Bank today is to

The World Bank formed the World Trade Organization when it became clear that to alleviate poverty in developing nations,agricultural trade barriers were going to have to be reduced.

Describe the primary functions of the World Bank,the IMF,and the WTO.When was each of these organizations formed?

From the late 1940s until the creation of the WTO,the organization that was primarily responsible for conducting rounds of trade negotiations was the

Which round of GATT led to the formation of the WTO?

Trade policies in which industries have been the most contentious in the Doha Round?

Having MFN status means that the country is getting the most favorable trade terms possible with a trading partner.

Describe the potential benefits and the potential costs to global trade of the tremendous growth in regional trade agreements.

Which of the following is NOT a feature of a common market?

MFN status means that a trading partner is getting the best trade deal possible given current national trade policies.

The United States in a Global Economy

Comparative Advantage and the Gains From Trade

Comparative Advantage and Factor Endowments

Beyond Comparative Advantage

The Theory of Tariffs and Quotas

Commercial Policy

International Trade and Labor and Environmental Standards

Trade and the Balance of Payments

Exchange Rates and Exchange Rate Systems

An Introduction to Open Economy Macroeconomics

International Financial Crises

The United States in the World Economy

The European Union: Many Markets Into One

Trade and Policy Reform in Latin America

Export-Oriented Growth in East Asia

The Bric Countries in the World Economy

Filters