Question 1

EU members are no longer sovereign nations.

Accepted Answer

A) True 
 B)False

Question 2

One weakness of the WTO is that the enforcement of the GATT was stronger.

Accepted Answer

A) True 
 B)False

Question 3

What is a free trade area? Provide an example of a free trade area.

Accepted Answer

A free trade area encourages t

Question 4

How does the WTO differ from the GATT?

Accepted Answer

While the GATT agreement was incorporate

Question 5

Which of the following countries is not part of the Mercosur Accord?

Accepted Answer

A)  Argentina 
B)  Guatemala 
C)  Paraguay 
D)  Uruguay 
A)  Argentina 
B)  Guatemala 
C)  Paraguay 
D)  Uruguay

Question 6

Under GATT, tariffs fell from about ________ in 1948 to about ________ in 2005.

Accepted Answer

A)  20 percent, 4 percent 
B)  28 percent, 5 percent 
C)  40 percent, 3 percent 
D)  60 percent, 10 percent 
A)  20 percent, 4 percent 
B)  28 percent, 5 percent 
C)  40 percent, 3 percent 
D)  60 percent, 10 percent

Question 7

The cumulative effect of GATT in developed countries was a ________.

Accepted Answer

A)  substantial reduction in tariffs 
B)  small increase in tariffs 
C)  substantial increase in tariffs 
D)  reduction in world trade 
A)  substantial reduction in tariffs 
B)  small increase in tariffs 
C)  substantial increase in tariffs 
D)  reduction in world trade

Question 8

What countries are granted the most-favored-nation status under the GATT?

Accepted Answer

A)  less-developed nations 
B)  GATT member countries 
C)  any country that requests it 
D)  only members of the WTO 
A)  less-developed nations 
B)  GATT member countries 
C)  any country that requests it 
D)  only members of the WTO

Question 9

Economic integration is typically beneficial to all sectors within an economy.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is not a regional trading bloc in Africa?

Accepted Answer

A)  Southern African Development Community 
B)  Economic Community of Central African States 
C)  Economic Community of West African States 
D)  African Development Union 
A)  Southern African Development Community 
B)  Economic Community of Central African States 
C)  Economic Community of West African States 
D)  African Development Union

EU members are no longer sovereign nations.

One weakness of the WTO is that the enforcement of the GATT was stronger.

What is a free trade area? Provide an example of a free trade area.

How does the WTO differ from the GATT?

Which of the following countries is not part of the Mercosur Accord?

Under GATT, tariffs fell from about in 1948 to about in 2005.

The cumulative effect of GATT in developed countries was a ________.

What countries are granted the most-favored-nation status under the GATT?

Economic integration is typically beneficial to all sectors within an economy.

Which of the following is not a regional trading bloc in Africa?

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, Accounting, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Marketing

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters

Exam 10: International Cooperation Among Nations

EU members are no longer sovereign nations.

One weakness of the WTO is that the enforcement of the GATT was stronger.

What is a free trade area? Provide an example of a free trade area.

How does the WTO differ from the GATT?

Which of the following countries is not part of the Mercosur Accord?

Under GATT, tariffs fell from about ________ in 1948 to about ________ in 2005.

The cumulative effect of GATT in developed countries was a ________.

What countries are granted the most-favored-nation status under the GATT?

Economic integration is typically beneficial to all sectors within an economy.

Which of the following is not a regional trading bloc in Africa?

An Overview of International Business

Global Marketplaces and Business Centers

Legal, Technological, Accounting, and Political Environments

The Role of Culture

Ethics and Social Responsibility in International Business

International Trade and Investment

The International Monetary System and the Balance of Payments

Foreign Exchange and International Financial Markets

Formulation of National Trade Policies

International Strategic Management

Strategies for Analyzing and Entering Foreign Markets

International Strategic Alliances

International Organization Design and Control

Leadership and Employee Behavior in International Business

International Marketing

International Operations Management

International Financial Management

International Human Resource Management and Labor Relations

Filters

Under GATT, tariffs fell from about in 1948 to about in 2005.