chapter 9 IB

The WTO is a predecessor organization of the GATT

• True
• FLASE

The European Bank for Reconstruction and Development is responsible for financial sector regulation in Europe.

• True
• FLASE

The IMF provides financial support to countries with temporary imbalances in their balance of trade.

• True
• FLASE

The Kyoto agreement and the Copenhagen accord aimed to address the challenges of climate change

• True
• FLASE

ASEAN is a regional free trade area in Africa.

• True
• FLASE

The negotiations over global regulation of the financial sector following the financial crisis of 2008/09 are known as ‘Doha round’ negotiations.

• True
• FLASE

Which is not one of the main areas of the WTO

• ?    GATT
• ?    GATS
• ?    TRIPS
• ?    MIA

Free trade areas can have a negative effect on economic welfare because of the

• ?    Trade diversion effect
• ?    Trade creation effect
• ?    Trade reduction effect
• ?    Trade exploitation effect

Which is not a role performed by the IMF?

• ?    Lending to countries in temporary financial difficulties.
• ?    Monitoring the global economy.
• ?    Financing economic development projects.
• ?    Providing technical assistance to developing countries.

Which of the following statements on the trade regime of the USA is false?

• ?    The USA have bilateral free trade agreements with more than a dozen countries around the world,
• ?    The USA are a member of the WTO,
• ?    The USA are a member of NAFTA,
• ?    The USA are a member of ASEAN,