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Questions and Answers
What term is used to describe a country's economic relationship with outside countries?
What term is used to describe a country's economic relationship with outside countries?
- Sanctions
- Open economy (correct)
- Trade wars
- Protectionism
Why do most western governments create barriers, according to the text?
Why do most western governments create barriers, according to the text?
- To support foreign exchange controls
- To promote domestic market growth
- To protect citizens against illegal drugs (correct)
- To encourage free trade
What organization is responsible for promoting the growth of free trade between economies?
What organization is responsible for promoting the growth of free trade between economies?
- World Trade Organization (WTO) (correct)
- World Bank
- International Monetary Fund
- United Nations
When one country believes another is taking unfair advantage of trade policies, what action might be employed?
When one country believes another is taking unfair advantage of trade policies, what action might be employed?
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What is the term used to describe a country preventing other countries from trading freely in order to protect its domestic market?
What is the term used to describe a country preventing other countries from trading freely in order to protect its domestic market?
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Apart from global agreements under WTO rules, what other types of agreements exist, according to the text?
Apart from global agreements under WTO rules, what other types of agreements exist, according to the text?
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What does the World Trade Organization (WTO) sometimes do when disputes arise between countries?
What does the World Trade Organization (WTO) sometimes do when disputes arise between countries?
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