hw5 - Spring2011ECON4633001: DueDate:April25,2011...

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International Trade Spring 2011 ECON4633-001: Due Date: April 25, 2011 Assignment 5 Name: __________________________ Date: _____________ 1. Import tariffs are ___________ on imports, and import quotas are ____________ on imports. A) subsidies; taxes B) limits; subsidies C) taxes; limits D) limits; taxes 2. GATT is the acronym (or abbreviation) for: A) the General Agreement on Taxes and Tariffs. B) the General Agreement on Tariffs and Trade. C) the General Agreement on Trade and Taxes. D) the General Agreement on Trade. 3. WTO is the acronym (or abbreviation) for: A) the World Traffic Organization. B) the World Trade Organization. C) the World Tariff Organization. D) the World Tax Organization. 4. An international conference in Bretton Woods, New Hampshire, in 1944 resulted in the formation of: A) the European Union in 1945. B) the Kyoto Agreement in 1971. C) the General Agreement on Tariffs and Trade (GATT) in 1947. D) the International Red Cross in 1955. Page 1
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5. The General Agreement on Tariffs and Trade focused on: A) raising tariffs on agricultural products. B) lowering trade restrictions between countries. C) promoting full employment worldwide. D) increasing trade restrictions between countries. 6. One feature of the GATT and now the WTO is that all member nations get the same treatment from their trading partners in terms of trade rules and restrictions—this provision is called: A) beggar thy neighbor. B) the good neighbor policy. C)
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This note was uploaded on 04/18/2011 for the course ECON 4633 taught by Professor Jingpinggu during the Spring '11 term at Arkansas.

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hw5 - Spring2011ECON4633001: DueDate:April25,2011...

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