Podcast
Questions and Answers
Which of the following is NOT an argument in favor of protectionist trade barriers?
Which of the following is NOT an argument in favor of protectionist trade barriers?
- Infant-industry development
- Cheap foreign labor
- National security
- Promoting free trade (correct)
What is the primary purpose of the World Trade Organization (WTO) mentioned in the text?
What is the primary purpose of the World Trade Organization (WTO) mentioned in the text?
- To promote protectionist trade barriers
- To arbitrate global trade disputes (correct)
- To replace the General Agreement on Tariffs and Trade (GATT)
- To negotiate international trade treaties
What is one of the negative effects of protectionist trade barriers?
What is one of the negative effects of protectionist trade barriers?
- Increased national security
- Hurt domestic consumers (correct)
- Reduced competition for domestic producers
- Higher wages for domestic workers
Which international organization provides economic assistance for poor and developing countries?
Which international organization provides economic assistance for poor and developing countries?
Which trade agreement was signed by Australia, Brunei, Canada, and Chile among others, but the United States later withdrew from it?
Which trade agreement was signed by Australia, Brunei, Canada, and Chile among others, but the United States later withdrew from it?
What is the primary focus of the Trans-Pacific Partnership (TPP) agreements?
What is the primary focus of the Trans-Pacific Partnership (TPP) agreements?
Which organization loans money to countries with troubled economies?
Which organization loans money to countries with troubled economies?
What is the purpose of understanding religious value systems and customs in international businesses?
What is the purpose of understanding religious value systems and customs in international businesses?
What is the primary function of subsidies in the context of trade barriers?
What is the primary function of subsidies in the context of trade barriers?
Which type of trade barrier involves a total restriction on an import or export?
Which type of trade barrier involves a total restriction on an import or export?
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