The World Trade Organization (WTO) was built on the basis of the General Agreement on Tariffs and Trade (GATT) and, thus, inherited many of its features. Still, the WTO proved to be a very distinct institution.
Indicate whether each property in the following table is a unique property of the WTO compared to GATT.
Property |
Unique Property of WTO |
||
---|---|---|---|
Yes |
No |
||
Acts as a membership organization | |||
Enforces dispute settlements | |||
Reduces national sovereignty | |||
Oversees tariff cuts and reduction of nontariff measures | |||
Encourages retaliatory tariffs |
In which of the following cases can the United States raise tariffs on imports from another member of the WTO?
If all members of the WTO are notified
If the United States believes that the existing tariffs are too low
In response to unfair trade practices by that country
When the United States forms a customs union with that country
The World Trade Organization (WTO) was built on the basis of the General Agreement on Tariffs...
hich of the following statements about a free trade agreement is accurato? The gains are shared equally by each member. Increased competition can result in higher commodity prices in the domestic markets of the member countries. Supplier firms might benefit from economies of scale that allow them to lower average costs t can increase the opportunities for domestic business investments but will decrease foreign direct investment into the member countries QUESTION 5 Suppase that the WTO determines that one of...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...
Questions 1. 20-3. Identify the key advantage of each of the six candidates. Identify their key limitation. Rank- order the candidates, from the most to least qualified, for the position of Managing Director of TCT India. 2. 20-4. What operational and personal challenges might the person you recommend encounter if named managing director? 3. 20-5. What steps would you recommend your preferred candidate take to manage those challenges? 4. 20-6. What are the pros and cons of posting a foreign...