Trade Agreements

An agreement was reached to replace the GATT by a new international trade body. This body was established in January 1995, and was called _____________.

• The World Trade Organisation

• Organization of World Trade

• North Atlantic Treaty Organization

• The Triple Alliance

WTO helps in the implementation and administration of international trade agreements. What is this function?

• It facilitates co-operation with other international organisations

• It monitors national trade policies

• It administers WTO trade agreements

• It provides a forum for trade negotiations

• It handles trade disputes

The WTO continues the GATT's emphasis on equal, non-discriminatory treatment for all member countries (excepting trading blocs). What principle is this?

• Non-discrimination

• Free trade

• Predictability

• Promotion of fair competition

This organization allows free trade among the United States, Canada, and Mexico and has helped with trade, created jobs, and encouraged the economic growth of its members.

• North Atlantic Treaty Organization (NATO)

• North American Free Trade Agreement (NAFTA)

• United Nations (UN)

• World Trade Organization (WTO)

This organization was created to promote trade and economic growth by lowering taxes and removing limits on some types of trade.

• North American Free Trade Agreement (NAFTA)

• North Atlantic Treaty Organization (NATO)

• United Nations (UN)

• World Trade Organization (WTO)

NAFTA is an agreement between all of the following countries EXCEPT

• United States
• Mexico
• Great Britain
• Canada

Free trade means 

• the countries use the same currency
• No trade barriers
• there is a quota on some goods
• trade is quick and easy

Which of these is the largest free trade agreement?

• OPEC

• NAFTA

• TINSTAAFL

• WTO

Any activity which slows or outright blocks the free exchange of goods and services between nations.

• Voluntary Trade
• Specialization
• Currency Exchange
• Trade Barrier

What is the primary purpose NAFTA?

• To reduce trade barriers among the US, Canada, and Mexico
• To reduce trade barriers among Central America and Mexico
• To reduce trade barriers among Brazil and Mexico
• To encourage free trade between the US, Europe, and Canada