Exam 7: Trade in Goods

A round is a meeting of the contracting parties of GATT to participate in ________.

The ________ included the GATT MTNs held from 1964 to 1967 that established the practice of setting an agenda for and defining the techniques to be used during GATT negotiations.

A safeguard is an emergency action that a WTO member state may take in order to protect its domestic industry from serious injury due to a sudden increase in the quantity of an imported product.

Which of the following was a function of the International Monetary Fund?

The Zangger Committee is also known as Non-Proliferation Treaty Exporters' Committee.

A ________ is a group of states that have reduced or eliminated tariffs among themselves but that maintain their own individual tariffs in dealing with other states.

The member states of GATT 1994 owe legal obligations to the contracting parties of GATT 1947

The Anti-dumping Code prohibits dumping.

Explain any three of the main principles of GATT 1947?

Which of the following best describes transparency?

Once goods are legally imported, they must be treated the same way as domestic goods. This is called ________.

Sectoral agreements of the WTO deal with ________.

Which of the following is an organ of the World Trade Organization?

A(n) ________ is a subsidy that may be challenged as trade distorting if it injures the domestic industry of another WTO member state, nullifies or impairs the benefits due to another member state, or causes or threatens to cause serious prejudice to the interests of another member state.

The ________ is a GATT scheme that allows a developing state to obtain tariff concessions from a developed state on a nonreciprocal basis.

The ________ allows a WTO member state to withdraw temporarily from its GATT obligations when there is a surge in the number of imports coming from other member states.

The World Trade Organization was a result of the ________.

Enlist the five main organs of the WTO.

An actionable subsidy is permissible and nonchallengeable, such as government funding to underwrite research activities, to aid disadvantaged regions, or to help existing facilities adapt to new environmental requirements.

A ________ is a group of states that have reduced or eliminated tariffs among themselves and have also established a common external tariff.