Exam 3: International Trade: Institutional Barriers and Facilitators

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The Department of Commerce regulates trade by issuing ____________________ licenses and by offering food, health and safety inspections and certification.

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Membership in the World Bank requires membership in the ______________________________.

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Because of the General Agreement on Tariffs and Trade (GATT), governments have created new nontariff barriers.

(True/False)
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The World Trade Organization (WTO) was created in 1989 to help Eastern Europe in its process of transition to a market economy.

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The Multifiber Arrangement is an example of

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An orderly market arrangement is a protectionist measure for establishing quotas in the textile and apparel industries.

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The International Monetary Fund and the World Bank were created as a result of the

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Which arguments are most often advanced to justify the imposition of tariff and nontariff trade barriers?

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The African Growth and Opportunity Act (AGOA) focuses on sub-Saharan Africa. AGOA was signed into law in 2001, and it offers incentives for African countries to open their economies and build free markets.

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Excessive standards could and often do help local and international industry alike.

(True/False)
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The General Agreement on Trade in Services (GATS) initially covered which industry?

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China

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Which of the following is not a member of the G8?

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________________________________________ status grants equal tax treatment on imported products from most countries, with the exception of rogue nations.

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A(n) ____ is usually initiated as the result of an action group calling for a ban on consumption of all goods associated with a particular company and/or country.

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Which of the following is not a development bank?

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Orderly market arrangements, voluntary import expansion, and voluntary export restraints are all examples of ____________________ barriers.

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In China, free trade zones employ ____________________ million people.

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Arguments invoking employment protection are used to ensure that competing multinationals do not import products manufactured elsewhere that might drive local manufacturers out of business and create local unemployment.

(True/False)
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The International Monetary Fund plays the role of lender of last resort.

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