Chat with AIExam 2: International Economic Institutions Since World War II
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.
(95) 
VerifiedFalse
Most favored nation (MFN)status means that a country treats another country
(75) VerifiedB
Describe the criticisms about decision making at the IMF and the World Bank.Which types of policies are thought to reflect bias? What types of costs are not considered? What is the fundamental question critics raise about the operations of the international governmental economic institutions?
(78) VerifiedVoting structures at the IMF and World Bank give developed nations,and the U.S.especially,control over decision making,making it hard to delineate whose interests are being served.For example,policies favoring free capital flows and privatization of publicly owned industries are thought to reflect the biases of industrialized countries rather than overwhelming economic consensus.Implementation and adjustment costs may be much greater in developing countries because they have higher overall levels of unemployment,less diversification in their economies,and fewer resources to develop new infrastructure or to do other spending necessary to take advantage of new opportunities.Fundamentally,critics ask whether they are fostering development and economic security or generating greater economic inequality and compounding risks to vulnerable groups.
Having MFN status means that the country is getting the most favorable trade terms possible with a trading partner.
(90) What is MFN status? How does the WTO reconcile the principle of equal treatment with the preferential treatment created by regional trade agreements?
(73) A lender of last resort can prevent the spread of financial crises.
(80) Which multilateral institution serves as the lender of last resort?
(74) Which of the following is NOT an example of an international public good?
(85) 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.
(78) The international organization that serves as a forum for trade discussions and the development of trade rules is called
(79) The World Bank was created as a result of the Bretton Woods conference and was originally focused on the reconstruction of Europe after World War II.
(61) What result of the Uruguay Round was the most significant for global trade?
(87) WTO talks in the late 1990s led to openings in both financial services and telecommunications.
(82) Describe the primary functions of the World Bank,the IMF,and the WTO.When was each of these organizations formed?
(71) 
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