Trade Regulations And Industrial Policies Mcqs

MCQ: The institutional framework developed in 1947 to promote trade liberalization is known sa?

1. the WTO
2. the GATT
3. the IMF
4. the World Bank

MCQ: During the post-world War II era?

1. Nontariff barriers (NTBs) and tariffs have increased in relative importance
2. NTBs and tariffs have decreased in relative importance
3. NTBs have increased and tariffs have decreased in relative importance
4. NTBs have decreased and tariffs have increased in relative importance

MCQ: Referring to the above, the embargo was mainly resisted by ?

1. U.S grains consumers and producers of bread
2. U.S farmers and grains companies
3. Grain Producers in foreign countries
4. Grain consumers in foreign countries

MCQ: Economic sanctions?

1. are prohibited by the World Trade Organization
2. affect international trade but not international financial flows
3. involve restrictions on imports, but not exports
4. involve restrictions in imports exports and or financial flows

MCQ: The U.S has granted China permanent most favored nation treatment (normal trade relations) This means that the tariff schedules which apply to U.S imports from china ?

1. have tariff rates equal to zero suggesting a free trade policy for the United States
2. have lower tariff rates than the rates that apply to any other country sending goods to the United States
3. have tariff rates that are identical to the rates that apply to other countries to which the U.S grants most-favored nation treatment
4. have lower tariff rates than the rates that apply to other countries to which the U.S grants most favored nation treatment

MCQ: The organization that currently establishes rules of conduct for firms engaging in international trade is the ?

1. World Bank
2. International Trade Commission
3. Department of justice
4. World Trade Organization

MCQ: Which round of international trade negotiations resulted in the creation of the World Trade Organization ?

1. Kennedy Round of 1964-1967
2. Tokyo Round of 1973-1979
3. Uruguay Round of 1986-1993
4. Doha Round of 2003-2007

MCQ: ________ are quotas that result in a total prohibition of trade?

1. embargoes
2. tariff-rate quotas
3. voluntary export restraints
4. nontariff barriers

MCQ: Suppose that Russia steel firms engage in dumping in the German market in terms of overall economic welfare, German welfare would _______ as the result of the dumping?

1. increase
2. decrease
3. not change
4. None of These

MCQ: According to the United States ____ is the number one violator of intellectual property rights

1. Canada
2. Australia
3. Japan
4. China