Countries choose to be part of the WTO so the rules are negotiated by members of
different governments and they have to be followed. It is in their best interest to do so
and because so many countries want to be a part of the WTO the multilatera
1870-1913 lowest tariffs ever. WW1 marks the end of the liberal period collapses because
of so much social instability
Liberal period ends for good by the great depression, protectivism, tariff walls by the 30s
capitalist countries to ref
1) The sale of:
a) a used textbook does enter GNP.
b) a used textbook does not enter GNP, but the sale of a used car does.
c) both a used textbook and a used car do not enter GNP.
d) a used car does not enter GNP, but the sale of a u
1) Low and middle income countries, between 1960 and 2001, have moved from exporting primarily:
a) Services to agricultural products
b) Agricultural products to manufactured goods
c) Manufactured goods to services
d) Minerals to Servi
1) Labor standards in trade agreements are typically opposed by most developing countries who believe
that they will be used:
a) to further neo-imperialist colonial exploitation.
b) to charge these countries with crimes against child-
1) How many dollars would it cost to buy an Edinburgh Woolen Mill sweater costing 50
British pounds if the exchange rate is 1.50 dollars per one British pound?
a) 50 dollars
b) 60 dollars
c) 70 dollars
d) 80 dollars
e) 75 dollars
1) People who are risk averse,
a) value a collection of assets only on the basis of its expected returns.
b) value a collection of assets only on the basis of the risk of that return.
c) value a collection of assets not only on the