The U.S. textile industry has had difficulty competing with foreign imports in the past. If the textile industry lobbies through the president and Congress for quota protection:
a.The U.S. government would have difficulty setting such quotas due to GATT.
b.None of the above.
c.The U.S. government would have to consider the Multifiber Arrangement.
d.The textile industry would have to petition directly to the Fiber Institute for such quotas.
"A"
The US government will have difficulty setting such quota under the GATT rules which is still under effect in the WTO with the name GATT 1994. It prohibits any such trade distorting practices.
The U.S. textile industry has had difficulty competing with foreign imports in the past. If the...
The Federal Reserve System is the primary regulatory agency governing the U.S. banking industry. It has singular importance in setting monetary policy and many economists believe it has substantial influence on the course of a business cycle. In the last few years, several senators/congressmen are proposing that the Federal Reserve Bank should be regulated and brought under their (congress and president) control. They believe that the Fed has kept the congress in dark and responsible in setting up conditions for...
The Federal Reserve System is the primary regulatory agency governing the U.S. banking industry. It has singular importance in setting monetary policy and many economists believe it has substantial influence on the course of a business cycle. In the last few years, several senators/congressmen are proposing that the Federal Reserve Bank should be regulated and brought under their (congress and president) control. They believe that the Fed has kept the congress in dark and responsible in setting up conditions for...
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...