WTO and RTA

The WTO was created

• In Bretton Woods (1944)
• In Havana (1947)
• In Geneva (1947)
• In Marakesh (in 1994, as a conclusion of Uruguay round of GATT negotiations)

The General Agreement on Tariffs and Trade (GATT)

• Was dissolved as the WTO was created
• Was incorporated as a part of legal basis of the WTO
• Exists in parallel with WTO
• Changed it name into GATS

The Most Favoured Nation (MFN) clause means in principle that

• Imported goods cannot be treated worse than analogical goods produced at home
• A country cannot discriminate between countries enjoying MFN (WTO members)
• The imported goods should be cheaper (0% tax rate)
• A country must decrease tariffs if other countries decrease them as well

The idea that imported and locally produced goods should be treated equally is called

• Most favoured nation clause
• Consolidation principle
• MFN exception
• National clause

Which of the following is not an exception from the Most favoured nation (MFN) clause

• National treatment
• Anti-dumping actions and countervailing measures
• General System of Preferences (GSP)
• Regional Trade Arrangements

The representants of each WTO members working permanently at the WTO headquarters never form the following decision-making body

• The General Council
• The Dispute Settlement Body
• The Trade Policy Review Body
• The Ministerial Conference

In general, the lowest tariffs (effective, trade weighted) characterize

• BRICS countries
• The most developed countries
• The least developed countries
• All countries have equal tariffs

Which WTO member which is not a party to any regional trade arrangement?

• Mongolia

• North Korea

• South Korea

• None

Which of the following is the most advanced form of economic integration

• Free Trade Area
• Customs Union
• Common Market
• Economic Union

Which of the following is the most frequent form of economic integration

• Free Trade Area
• Customs Union
• Common Market
• Economic Union