chap 6

Concerning the tariff policy of the United States, the country imposes

• identical tariff rates on products from all countries.

• lower tariff rates on products from countries with most-favored-nation (MFN) status.

• zero tariff rates on products from all developing countries

• higher tariff rates on products from countries with most-favored-nation status.

Adjustment assistance is sometimes used to assist

• in retraining workers displaced by imports.

• in retraining workers displaced by exports.

• foreign firms injured by our quotas.

• foreign firms injured by our tariffs.

   

Industrial policies

• will not be implicit.

• require formal explicit efforts by governments.

• have never been used by the U.S. government.

• should be approved by the World Trade Organization.

The World Trade Organization was established by the ____ of multilateral trade negotiations.

• Tokyo Round

• Kenedy Round

• Clinton Round

• Uruguay Round

For the United States, which organization makes loans to foreign buyers of U.S. manufactured goods?

• Export-Import Bank

• Domestic International Sales Corporation

• Organization for Economic Cooperation and Development

• Commodity Credit Corporation

The General Agreement on Tariffs and Trade (GATT) and its successor, the World Trade Organization, have resulted in

• termination of export subsidies applied to manufactured goods.

• termination of import tariffs applied to manufactured goods.

• encouragement of beggar-thy-neighbor policies.

• reductions in trade barriers via multilateral negotiations.

Which international organization stipulates procedures for the settlement of international trade disputes?

• International Monetary Fund

• World Bank

• World Trade Organization

• Organization of Economic Development