Question 1

Discuss the formation of GATT and the issues that precipitated the formation of the WTO (Post GATT).

Accepted Answer

GATT was established in 1948. Unlike the

Question 2

The EU has been an economic union since the Maastricht Treaty went into effect in 1993.

Accepted Answer

A) True 
 B)False

Question 3

The negotiations sponsored by WTO in Doha, Qatar, were aimed directly at the economic development of developing countries.

Accepted Answer

A) True 
 B)False

Question 4

Unlike tariffs, whose existence is easily observed, many governments imposed NTBs (non-tariff barriers) to protect their domestic market.

Accepted Answer

A) True 
 B)False

Question 5

The multilateral trading system resolves disputes between two countries involved in global trade.

Accepted Answer

A) True 
 B)False

Question 6

Out of the following, which one is an example of regional economic integration?

Accepted Answer

A)  European Union 
B)  British Commonwealth 
C)  AT T and T-Mobile merger 
D)  Coca-Cola international operations 
A)  European Union 
B)  British Commonwealth 
C)  AT T and T-Mobile merger 
D)  Coca-Cola international operations

Question 7

The most (in)famous loophole in merchandise trade created through GATT was:

Accepted Answer

A)  TRIPS 
B)  NTB 
C)  MFA 
D)  MBA 
A)  TRIPS 
B)  NTB 
C)  MFA 
D)  MBA

Question 8

Although founded in 1967, the Association of Southeast Asian Nations (ASEAN) had not been economically active until 1996.

Accepted Answer

A) True 
 B)False

Question 9

The crucial principle of GATT/WTO is non-discrimination, ensuring that countries do not discriminate among its trading partners.

Accepted Answer

A) True 
 B)False

Question 10

Except for Moldavia, all WTO members are now involved in some regional trade arrangement.

Accepted Answer

A) True 
 B)False

Question 11

Which one of the following was agreed upon and launched at the end of the Uruguay Round trade talks?

Accepted Answer

A)  GATT 
B)  The EU 
C)  The WTO 
D)  The Multifiber Arrangement 
A)  GATT 
B)  The EU 
C)  The WTO 
D)  The Multifiber Arrangement

Question 12

Upon establishment of GATT, there were many loopholes in the Multifibre Arrangement (MFA), designed to limit free trade in textiles.

Accepted Answer

A) True 
 B)False

Question 13

There are three types of economic integration, namely: global, regional, and local.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following best describes the European Union?

Accepted Answer

A)  United States of Europe 
B)  Cooperation between governments, like the UN 
C)  Is meant to replace existing nation states (local European) governments 
D)  Pooling of sovereignty into a single, integrated entity 
A)  United States of Europe 
B)  Cooperation between governments, like the UN 
C)  Is meant to replace existing nation states (local European) governments 
D)  Pooling of sovereignty into a single, integrated entity

Discuss the formation of GATT and the issues that precipitated the formation of the WTO (Post GATT).

The EU has been an economic union since the Maastricht Treaty went into effect in 1993.

The negotiations sponsored by WTO in Doha, Qatar, were aimed directly at the economic development of developing countries.

Unlike tariffs, whose existence is easily observed, many governments imposed NTBs (non-tariff barriers) to protect their domestic market.

The multilateral trading system resolves disputes between two countries involved in global trade.

Out of the following, which one is an example of regional economic integration?

The most (in)famous loophole in merchandise trade created through GATT was:

Although founded in 1967, the Association of Southeast Asian Nations (ASEAN) had not been economically active until 1996.

The crucial principle of GATT/WTO is non-discrimination, ensuring that countries do not discriminate among its trading partners.

Except for Moldavia, all WTO members are now involved in some regional trade arrangement.

Which one of the following was agreed upon and launched at the end of the Uruguay Round trade talks?

Upon establishment of GATT, there were many loopholes in the Multifibre Arrangement (MFA), designed to limit free trade in textiles.

There are three types of economic integration, namely: global, regional, and local.

Which of the following best describes the European Union?

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing With Foreign Exchange

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing, Structuring, and Learning Around the World

Competing on Marketing and Supply Chain Management

Filters

Exam 8: Capitalizing on Global and Regional Integration

Discuss the formation of GATT and the issues that precipitated the formation of the WTO (Post GATT).

The EU has been an economic union since the Maastricht Treaty went into effect in 1993.

The negotiations sponsored by WTO in Doha, Qatar, were aimed directly at the economic development of developing countries.

Unlike tariffs, whose existence is easily observed, many governments imposed NTBs (non-tariff barriers) to protect their domestic market.

The multilateral trading system resolves disputes between two countries involved in global trade.

Out of the following, which one is an example of regional economic integration?

The most (in)famous loophole in merchandise trade created through GATT was:

Although founded in 1967, the Association of Southeast Asian Nations (ASEAN) had not been economically active until 1996.

The crucial principle of GATT/WTO is non-discrimination, ensuring that countries do not discriminate among its trading partners.

Except for Moldavia, all WTO members are now involved in some regional trade arrangement.

Which one of the following was agreed upon and launched at the end of the Uruguay Round trade talks?

Upon establishment of GATT, there were many loopholes in the Multifibre Arrangement (MFA), designed to limit free trade in textiles.

There are three types of economic integration, namely: global, regional, and local.

Which of the following best describes the European Union?

Globalizing Business

Understanding Formal Institutions: Politics, Laws, and Economics

Emphasizing Informal Institutions: Cultures, Ethics, and Norms

Leveraging Resources and Capabilities

Trading Internationally

Investing Abroad Directly

Dealing With Foreign Exchange

Growing and Internationalizing the Entrepreneurial Firm

Entering Foreign Markets

Managing Global Competitive Dynamics

Making Alliances and Acquisitions Work

Strategizing, Structuring, and Learning Around the World

Competing on Marketing and Supply Chain Management

Filters