Quiz1 - 1 1 Mexico eliminated nearly all tariffs on product imported from the Uni ted States as a result of w hich of the following Not WTO 2

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1 1. Mexico eliminated nearly all tariffs on product imported from the United States as a result of which of the following? Not WTO 2. Recently President Obama met with the Chinese Premier HuJintao and continued U.S…2 3. When added up all together, the Foreign Exchange Reserves of the BRIC countries is greater than that of U.S. reserves.1 4. Although the European Union is a common market, member countries have different economic growth rates.1 5. If a firm imports 100 tons of wheat valued at $ 30/pound and a specific tariff of $5 is imposed for every ton of wheat then the total tariff . .1 6. In most high-inflation nations, interest rates are increasing while the purchasing power of the national currency is plummeting. 1 7. One of the reasons why the EU subsidized European farmers in places such as France is because French farmers have been traditionally powerful politically and ….1 8. Which of the following is an example of a government procurement policy? Requiring government 2 9. Specific tariffs charge a specific percentage of the value of goods imported into a country.1 10. Each country in NAFTA sets its own tariffs to the rest of the world.1 11. A quantitative restriction on specific imports for a set period of time is known by which of the following terms? Quota 12. Because the size of the market increases when trade barriers fall, companies can increase their production, which will result in lower costs per unit. This phenomenon is known as____ economies 13. RTAs and the WTO seek the same kind of integration. RTAs seek to open globalization processes worldwide while the WTO regulates trade on a region by regional basis.2 14. When countries set up free trade agreements, they can still impose tariffs on imports from
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This note was uploaded on 09/08/2011 for the course IBUS 330 taught by Professor Nicholson during the Spring '07 term at S.F. State.

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Quiz1 - 1 1 Mexico eliminated nearly all tariffs on product imported from the Uni ted States as a result of w hich of the following Not WTO 2

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