World Trade Post-WWII: Key Developments

<p>The need to rebuild war-torn economies (A)</p> Signup and view all the answers

<p>The resistance to direct investment and increased competition (D)</p> Signup and view all the answers

<p>That American companies were taking over the European market (C)</p> Signup and view all the answers

<p>To help rebuild the economies of war-torn European countries (B)</p> Signup and view all the answers

<p>It led to a more balanced distribution of economic power (A)</p> Signup and view all the answers

<p>Consultation (A)</p> Signup and view all the answers

<p>Free trade agreements (A)</p> Signup and view all the answers

<p>A currency that is manipulated by the government to control its value (C)</p> Signup and view all the answers

<p>To promote economic development and reduce poverty (A)</p> Signup and view all the answers

<p>Imposing trade sanctions on non-compliant countries (B)</p> Signup and view all the answers

<p>It created a process to reduce tariffs and regulate world trade (B)</p> Signup and view all the answers

<p>All member countries have equal representation in the WTO (D)</p> Signup and view all the answers

<p>Maintaining stability in financial markets and assisting countries seeking economic development (B)</p> Signup and view all the answers

<p>To provide a stable unit of account for international transactions (D)</p> Signup and view all the answers

<p>Realism (D)</p> Signup and view all the answers

<p>Current account (B)</p> Signup and view all the answers

<p>Generating revenue for the government (D)</p> Signup and view all the answers

<p>Addressing trade deficits, protectionism, and fairness in trade practices (C)</p> Signup and view all the answers

<p>Promotion of international cooperation (A)</p> Signup and view all the answers

<p>To record international financial transitions (D)</p> Signup and view all the answers

<p>Quota (C)</p> Signup and view all the answers

<p>Quotas restrict specific quantities, while licenses authorize imports on a case-by-case basis. (D)</p> Signup and view all the answers

<p>To prevent predatory pricing by foreign producers (A)</p> Signup and view all the answers

<p>Quality standards, sanitary and health standards, and quotas (B)</p> Signup and view all the answers

<p>To punish a specific country for its actions (C)</p> Signup and view all the answers

<p>They can lead to higher prices for consumers (D)</p> Signup and view all the answers

<p>Quotas are imposed by the importing country, while VERs are negotiated between the importing and exporting countries. (C)</p> Signup and view all the answers

<p>To protect domestic industries from foreign competition (B)</p> Signup and view all the answers

<p>Import tariff (B)</p> Signup and view all the answers

<p>Whether the country is in a good or bad financial condition (A)</p> Signup and view all the answers

<p>To control the flow of foreign exchange (C)</p> Signup and view all the answers

A U.S. initiative to aid European recovery after WWII through financial support.

General Agreement on Tariffs and Trade aimed at reducing trade barriers.

regulates international trade laws.

When countries can sustain their economies without external assistance.

Companies that operate in multiple countries beyond their home country.

A book predicting the rise of American industry in Europe post-WWII.

Transformation of less developed countries into industrialized economies.

The shift in global trade patterns driven by U.S. economic support.

The ability for goods to enter a foreign market without barriers.

Efforts to increase the volume of goods sold to other countries.

Temporary assistance provided to domestic businesses hurt by imports.

An organization that oversees international trade agreements and disputes.

An organization that provides financial aid and stabilizes economies.

A type of currency value used for international trade contracts.

An organization focused on reducing poverty and supporting development.

Obstacles that prevent or restrict trade between countries.

Regulations that products must meet to enter a market.

A system recording a country's international financial transactions over a period, usually a year.

Records all merchandise exports, imports, services, and unilateral transfers of funds.

Records direct investments, portfolio investments, and short-term capital movements.

Records export/import of gold and liabilities to foreign central banks.

The use of legal and psychological barriers by nations to limit foreign goods entry.

Restrictions on imported products other than tariffs, like quotas and health standards.

A tax imposed on imported goods to protect local industry.

Custom duties based on a percentage of the value of imported goods.

A limit on the quantity or dollar value of goods that can be imported.

Agreements between countries to limit exports to avoid stiffer quotas.

An absolute restriction on the purchase or importation of goods from another country.

A refusal to sell goods to a specific country, usually for political reasons.

A political tool used to restrict imports by cutting off currency exchange.

Measures taken to prevent foreign producers from selling goods below production cost.

A 1988 act aimed at addressing trade deficits and ensuring fair trade practices.