Exam 8: International Trade

Which factor contributed to the industrialization of the United States?

A state that avoids trading altogether and instead tries to __________ everything it needs by itself is following a strategy of autarky.

The General Agreement on Tariffs and Trade was replaced by the __________ in 1995.

Despite aiding particular industries,protectionist policies tend to slow down the global creation of wealth.

Industrialized states give trade concessions to less-developed countries to help with their economic development through the __________.

Which topic is on the agenda of the Doha Round of WTO trade negotiations?

Ensuring that participants keep their commitments,that contracts are binding,and that buyers pay for goods they purchase all are part of the __________ framework for markets.

Completed in 1994,the Uruguay Round of the GATT added little to the global creation of wealth.

The principle that whenever one __________ member-state lowers tariffs on certain kinds of imports from another member-state,all member-states are entitled to the same treatment with regard to their goods is known as most-favored nation principle.

Enforcement of trade agreements __________.