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The World Trade Organization provides legally binding ground rules for international commerce and trade policy.
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False
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- Name and describe at least one international organization or trade agreement which has sought to lower the barriers against trade between nations.Which of the following is different from others? a) orderly marketing agreement B) absolute quotas C) a voluntary export agreement D) export quotasThere are five different levels of regional trade agreements – demonstrate how each of these can work in practice.
- Explain natural resources and specialization as courses of internal tradeUnder the world trade rules under the World Trade Organisation (WTO) regime National Treatment is regarded as essential for States to fully enjoy the benefits of international trade. The World Intellectual Property Organisation (WIPO) seems to concur with that view of WTO in relation to trade aspects of intellectual property. In regard to copyright, with illustrations, discuss the pros and cons of National Treatment.A trade restriction on the quantity of a good that an exporting country is allowed to export to another country is known as? a. Voluntary export restraint b. Export subsidy c. Quota d. Sanction
- Diagrammatically explain the statement 'Restricted trade is superior to no trade'.The long-term trend in barriers to trade can be characterized as follows: Group of answer choices The number of claims brought to the WTO dispute resolution department has skyrocketed. Trade barriers have generally increased, and means of trade have generally been increased. Trade barriers have generally been reduced, and means of trade have generally been increased. The long-term trend has been the steady increase in tariffs and import quotas.Brander-Spencer analysis states that A. competition can be enhanced by international trade. B. monopoly profits can be eliminated by international trade. C. monopoly profits can be eliminated by trade policies. D. monopoly profits can be moved from one country to another by a government subsidy.
- Reasons for international trade include all except: a. Differences in technology b. No difference in capital stock c. Difference in demand d. Increasing returns to scaleThe GATT (General Agreement on Tariffs and Trade) was set up as a successor to the WTO (World Trade Organization). True FalseTrade that occurs in a particular industry is called a. intra-industry trade b. inter-industry trade c. inter-sector trade d. intra-sector trade