Global Economic Policy

Question 1

Which statements reflect the purpose of trade agreements? Check all that apply.They make it easier for nations to do business.They increase product choices for consumers.They prevent two nations from exchanging goods.They regulate the tariff rates that a nation pays on its exports. They reduce or remove trade barriers.

Revolt · Accepted Answer

A: They make it easier for nations to do business.; B: They increase product choices for consumers.; E: They reduce or remove trade barriers.

Question 2

Why do nations use trade barriers? Check all that apply.They protect an industry from foreign competition.They increase commerce in developing regions.They place sanctions on trade with another nation.They aid nations facing war or political transitions.They reduce the price of imported products.

Revolt · Accepted Answer

A: They protect an industry from foreign competition.; C: They place sanctions on trade with another nation.

Question 3

According to the preamble, what is the trade agreement’s purpose?

Revolt · Accepted Answer

B: to increase cooperation and expand trade

Question 4

Which statements describe the goals of the US-Australian trade agreement? Check all that apply.to free the nations of their obligations under the WTO agreementto encourage more open communication on commerce mattersto improve each nation’s living standardsto expand bilateral investment and tradeto increase tariffs and import regulations

Revolt · Accepted Answer

B: to encourage more open communication on commerce matters; C: to improve each nation’s living standards; D: to expand bilateral investment and trade

Question 5

✔ Israel and the United StatesIsrael and NAFTA Israel and the EU

Revolt · Accepted Answer

A: Israel and the United States

Question 6

What is one result of the agreement being made in this excerpt?

Revolt · Accepted Answer

D: Tariffs will be reduced or removed.

Question 7

Why would this passage appear in a trade agreement? Check all that apply.

Revolt · Accepted Answer

C: It lets each nation protect its own industries; D: It lets the partner nation know about decisions affecting its exports.

Question 8

How does this agreement help the nations involved? Check all that apply.

Revolt · Accepted Answer

A: It reduces barriers to trade.; C: It promotes industry development and trade.; D: It requires environmental protection.; F: It protects workers’ rights.

Question 9

the United States the EU✔ Israel

Revolt · Accepted Answer

C: Israel

Global Economic Policy Answers

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