Exam 16: Political Economy and Us Trade Policy

After the implementation of the tariff reductions agreed to in the Uruguay Round of Multilateral trade negotiations, the average level of tariffs in developed countries was __________.

The use of a bilateral, item-by-item approach best characterizes which period of trade negotiations?

The successful Uruguay Round of trade negotiations transformed the then-existing sponsoring agency into the __________, which began operation in __________.

Briefly describe the evolution of U.S. trade policy since the imposition of the famous Smoot-Hawley tariff. What has happened to the level of tariffs over the period? To the level of protection in general?

In 2011, final approval by the U.S. Congress was given to free-trade agreements with __________.

It is not uncommon to find a voting industry minority being able to put in place trade Policies that benefit that minority at the expense of the majority

Since 1993, the U.S. and the European Union have had a number of disagreements over trade policy. Discuss some of the major disagreements and identify the groups in the U.S. that stand to gain from the policies and those that stand to lose.

The longstanding arrangement for regulating the flow of imports of textiles and apparel Into developed countries from developing countries was known as __________.

The concept of "results-based" trade policy

If some of a country's resources are devoted to the provision of bribes and other incentives to legislators so as to influence voting behavior on particular policies, these actions __________; the actions are referred to by economists as __________.

Do you think that the developing countries should be given special, favorable treatment in multilateral trade negotiations? Why or why not? Has such treatment been given to developing countries in the past? Explain.

Recent polling work discussed in the text pertaining to attitudes toward international trade suggests that Americans have __________. Another finding is that greater inequality in a country seems to be positively associated with a greater desire __________.

In the last 10-15 years, which one of the following sets of goods has NOT been subject to an agreement to limit the amount of imports into the United States?

Which of the following is generally thought to have established the highest tariffs in U.S. history?

Small groups may gain at the expense of the majority when

The feature of U.S. trade legislation whereby a negotiated trade agreement (negotiated by The Executive Branch) can only be voted on in a "yea" or "nay" fashion (with no Amendments) by the Congress is known as

In late 2003, the Bush administration unilaterally placed temporary import quotas on several textile items imported from __________.

An early significant agreement in the negotiations of the Doha Development Agenda that Is of importance to developing countries occurred in the area of

The first U.S. legislation to authorize "adjustment assistance" for workers displaced by tariff reductions was the

The most recently successfully completed GATT/WTO "round" or set of multilateral Trade negotiations was the