International Trade, GATT and the WTO

Question 1

Which of the following does not represent trade talks or a "round" of negotiations?

Revolt · Accepted Answer

the Paris Round

Question 2

The GATT Uruguay Round negotiations led to groundbreaking changes in the following areas, with the exception of which one?

Revolt · Accepted Answer

poverty eradication in the least-developed countries

Question 3

The following are true about US exports and exporters except for which statement?

Revolt · Accepted Answer

The majority of US companies export their products.

Question 4

Which is not a key component of the General Agreement on Tariffs and Trade (GATT)?

Revolt · Accepted Answer

reducing and eliminating non-tariff barriers

Question 5

What was the key factor leading to the failure of the International Trade Organization (ITO)?

Revolt · Accepted Answer

the United States withdrew its support

Question 6

Which is not a member of what is referred to as the "World Bank Group"?

Revolt · Accepted Answer

the Economic and Social Council (ECOSOC)

Question 7

Which of the following is NOT a non-tariff barrier (NTB)?

Revolt · Accepted Answer

a free-trade agreement (FTA)

Question 8

How long did the fixed exchange rate implemented by the International Monetary Fund (IMF) last?

Revolt · Accepted Answer

It lasted for almost three decades.

Question 9

What organization did not result from the 1944 Bretton Woods negotiations?

Revolt · Accepted Answer

the International Trade Organization (ITO)

Question 10

The country that became a member of the World Trade Organization in December 2011 is _____.

Revolt · Accepted Answer

Russia

International Trade, GATT and the WTO Answers