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Global Marketing Study Set 5

Business

Quiz 3 :

The Global Trade Environment

Quiz 3 :

The Global Trade Environment

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The World Trade Organization,which came into existence on January 1,1995,is the successor of another organization known as:
Free
Multiple Choice
Answer:

Answer:

B

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"Euro-skeptics" and other members of the Leave movement were convinced that their country could thrive economically outside of the EU framework.
Free
True False
Answer:

Answer:

True

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In October 2011,the U.S.Congress finally ratified the long-delayed free trade areas with South Korea,Panama,and Colombia.
Free
True False
Answer:

Answer:

True

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The GATT had no enforcement power since the losing party in a dispute was entitled to ignore the ruling.
True False
Answer:
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Why do some critics refer to GATT as the "General Agreement to Talk and Talk" and how does its successor,the WTO,provide a better forum for trade agreements?
Essay
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What are the possible benefits or drawbacks if a customs union is formed between Great Britain and the EU?
Essay
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It is mandatory for countries to notify the WTO when they enter into preferential trade agreements.
True False
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Which form of regional cooperation agreement,when fully implemented,entails creation of a unified central bank,the use of a single currency,and common policies on agriculture,social services,and welfare?
Multiple Choice
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In a common market there are no internal barriers to trade,and it allows free movement of factors of production such as labor and capital.
True False
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________ builds upon the elimination of internal tariff barriers,the establishment of common external barriers,and the free flow of factors.
Multiple Choice
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Select the best answer that represents the lowest to the highest level of economic integration.
Multiple Choice
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A free trade area represents the most fully developed form of preferential trade agreement among nations.
True False
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A laptop manufactured in Canada and imported by Chile would not be subjected to duty.If the same laptop was manufactured in the United States and exported to Chile,it will have to pay duty.In order to avoid duty,can the manufacturer in the United States send the computer via Canada?
Essay
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Which of the following statements related to Brexit is not accurate?
Multiple Choice
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A preferential trade agreement is a mechanism that confirms special treatment on select trading partners,thereby at times discriminating against other trading partners.
True False
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In 2014,the EU filed a complaint that the government of Washington state violated international trade rules by:
Multiple Choice
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President Trump's administration has blocked the process for filling vacancies on the WTO's Appellate Body.
True False
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In 2016,the United States filed a complaint with the WTO stating that Indian export duties on a range of extractive commodities gave its manufacturers access to key materials at market-distorting prices.
True False
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In addition to eliminating internal barriers to trade,members of a customs union agree to the establishment of common external tariffs.
True False
Answer:
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The form of economic cooperation that calls for establishing common external tariffs is known as a(n):
Multiple Choice
Answer:
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