Question :
71. (p. 42) Which of the following trading partners has become the number : 1242192
71. (p. 42) Which of the following trading partners has become the number one “trade problem” for the United States at the beginning of the 21st century?
A. The United Kingdom
B. Japan
C. Germany
D. Canada
E. China
72. (p. 42) Which of the following acts was designed to deal with trade deficits, protectionism, and the overall fairness of our trading partners?
A. The World Trade Organization Act
B. The Omnibus Trade and Competitiveness Act of 1988
C. The League of Nations Act of 1920
D. The Hawley-Smoot Tariff Act of 1930
E. The International Monetary Fund Act
73. (p. 42) The issue of the openness of markets for U.S. goods is addressed as ___.
A. market access
B. market availability
C. exchange fairness
D. trade equity
E. fair trade policy
74. (p. 43) Which section of the Omnibus Trade and Competitiveness Act recognizes that foreign penetration of U.S. markets can cause serious competitive pressure, loss of market share, and, occasionally, severe financial harm?
A. The market access section
B. The export expansion section
C. The import relief section
D. The foreign exchange regulation section
E. The trade deficit section
75. (p. 43) Which of the following is NOT one of the four ongoing activities that support the growth of international trade?
A. GATT
B. WTO
C. The International Monetary Fund
D. The World Bank Group
E. The Global Development Network
76. (p. 43) Which of the following were the original signatories to the General Agreement on Tariffs and Trade (GATT) shortly after World War II?
A. The United States, The United Kingdom, and Germany
B. The United States and 22 other countries
C. The United States, countries of Europe, and Japan
D. The United States and 6 other countries
E. The United States, France, Germany, The U.K., and Japan
77. (p. 43) Which of the following is NOT true of the GATT?
A. The United States and 22 other countries signed the GATT shortly after World War II.
B. The GATT paved the way for the first effective worldwide tariff agreement.
C. Member nations seek to resolve their trade disputes unilaterally.
D. The GATT panels are only advisory and have no enforcement powers.
E. It created an agency to serve as watchdog over world trade.
78. (p. 44) As an outcome of the Uruguay Round of intergovernmental tariff negotiations on the GATT platform, the first multilateral, legally enforceable agreement covering trade and investment in the services sector was formulated, termed the ___.
A. Trade-Related Aspects of Intellectual Property Rights (TRIPs )
B. Trade-Related Investment Measures (TRIMs)
C. General Agreement on Trade in Services (GATS)
D. Comprehensive Economic Cooperation Agreement (CECA)
E. Marrakesh Agreement
79. (p. 44) Which of the following agreements permits challenging the restrictions in Indonesia that prohibit foreign firms from opening their own wholesale or retail distribution?
A. Trade-Related Aspects of Intellectual Property Rights (TRIPs)
B. Trade-Related Investment Measures (TRIMs)
C. General Agreement on Trade in Services (GATS)
D. Marrakesh Agreement
E. Stockholm Agreement
80. (p. 45) Which was the most notable achievement of the Uruguay Round of GATT negotiations?
A. The signing of the Trade-Related Aspects of Intellectual Property Rights (TRIPs) agreement
B. The formulation of the Kyoto Protocol
C. The inclusion of Africa and Indonesia into its member-list
D. The creation of the World Trade Organization
E. The ratification of the Internet as a global business platform
