Question :
81. (p. 43) All of the following activities or organizations designed to support : 1242181
81. (p. 43) All of the following activities or organizations are designed to support the growth of international trade EXCEPT:
A. the General Agreement on Tariffs and Trade (GATT).
B. the World Trade Organization (WTO).
C. the International Trade Administration (ITA).
D. the World Bank Group.
E. the International Money Fund (IMF).
82. (p. 43-44) One of the basic elements of the General Agreement on Tariffs and Trade (GATT) is that:
A. member nations are exempt from import tariffs to other member nations.
B. all tariffs shall be abolished among member nations by 2010.
C. the World Court shall review all claims and make final judgments.
D. trade shall be conducted on a nondiscriminatory basis.
E. the United Nations Trade Agency (UNTA) shall serve as watchdog.
83. (p. 45) The ratification of the WTO by the United States was challenged in the U.S. Congress for all of the following reasons EXCEPT:
A. possible loss of sovereignty over its trade laws to the WTO.
B. the lack of veto power by the U.S.
C. the ability of a WTO member to challenge trade laws of individual states.
D. the amount of funds that must be supplied to the WTO to run its organization.
E. a majority of WHO members could impose decisions on the U.S.
84. (p. 46) Which of the following is the most popular way to circumvent WTO guidelines?
A. Antidumping duties
B. Tariffs
C. Quotas
D. Fees
E. Licenses
85. (p. 46) Several nations are frustrated with the slow progress of the most recent round of WTO trade negotiations. To vent this frustration, several countries are:
A. negotiating bilateral trade agreements.
B. forming a rival organization.
C. refusing to honor rules and regulations imposed by the WTO.
D. using legal means to sue the WTO.
E. opting out of membership in the WTO.
86. (p. 47) _____ and the World Bank Group are two global institutions created to assist nations in becoming and remaining economically viable.
A. The United Nations
B. The World Court
C. The International Monetary Fund
D. The International Red Cross
E. The League of Nations
87. (p. 47) To overcome the particular market barriers of inadequate monetary reserves and unstable currencies that plagued international trading before World War II, the _____ was formed.
A. World Bank
B. United Nations Organization
C. International Trade Federation
D. International Monetary Fund
E. United Nations Development Programme
88. (p. 47) Which of the following is one of the primary objectives of the International Monetary Fund (IMF)?
A. The abolishment of unfavorable exchange rates for any nation.
B. The abolishment of debt for impoverished nations.
C. The stabilization of foreign exchange rates.
D. The waiver of all debts from World War II.
E. The establishment of global nondiscriminatory prices.
89. (p. 47) Developed by the IMF to cope with universally floating exchange rates, _____ represent(s) an average base of value derived from the value of a group of major currencies.
A. exchange permits
B. special drawing rights
C. floating currencies
D. the gold rate
E. dollar parities
90. (p. 47) Another term for IMF special drawing rights (SDRs) is:
A. black gold.
B. exchange permits.
C. floating currencies.
D. paper gold.
E. virtual dollars.
91. (p. 48) The five institutions of the World Bank Group perform all the following services EXCEPT:
A. lending money to the governments of developing countries to finance development projects in education, health, and infrastructure.
B. providing assistance to governments for developmental projects to the poorest developing countries.
C. helping strengthen the private sector in developing countries with long-term loans, equity investments, and other financial assistance.
D. providing investors with investment guarantees against “commercial risk”.
E. providing facilities for the conciliation and arbitration of disputes between governments and foreign investors.
92. (p. 48-49) The complaints against the WTO, IMF, and others include all of the following EXCEPT:
A. environmental concerns.
B. worker exploitation and domestic job losses.
C. cultural integration.
D. higher oil prices.
E. diminished sovereignty of nations.
