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WorksheetsInternational Studies Midterms Review Quiz
Total questions: 20
Worksheet time: 20mins
Which event directly led to the creation of the International Trade Organization (ITO) proposal?
Bretton Woods Conference
Proposals for Expansion of World Trade and Employment (1945)
Treaty of Versailles
Marshall Plan
Which round of negotiations gave birth to the World Trade Organization (WTO)?
Marrakech Round
Tokyo Round
Geneva Round
Uruguay Round
The Marrakesh Agreement, signed in 1994, is significant because:
It marked the end of the GATT and established the WTO.
It resolved disputes from the Kennedy Round.
It initiated the Tokyo Round negotiations.
It was the first trade agreement involving the United Nations.
Which country did not participate in the 1947 negotiations leading to the GATT?
United Kingdom
Czechoslovakia
Switzerland
Cuba
One of the major failures of the Kennedy Round (1964-1967) was its inability to:
Conclude the GATT Agreement
Lower tariffs for manufactured goods
Finalize agreements on NTBs
Introduce trade in services
Why was the Tokyo Round (1973-1979) considered only partially successful?
Limited participation from developing nations
Focused solely on tariff reductions
The agreements were not binding on most countries
NTB negotiations were inconclusive
Why was the TokyoWhich of the following was NOT included in the Uruguay Round's comprehensive agenda?
Military equipment
Intellectual Property Rights
Telecommunications
Agriculture
Market Access primarily concerns:
Reducing import duties and non-tariff barriers
Imposing export taxes
Increasing subsidies for local businesses
Promoting dumping practices
Which term defines the action of selling goods in a foreign market below their normal value?
Tariff escalation
Subsidizing
Dumping
Market Access
What is a primary goal of anti-dumping measures under the WTO?
Prevent injury to domestic industries
Encourage market dumping to reduce prices
Promote protectionism globally
Increase subsidies for local exporters
Which two types of barriers to trade are identified in the WTO's third preambular paragraph?
Tariffs and market restrictions
Subsidies and dumping
Tariffs and non-tariff barriers
Sanitary and phytosanitary measures
What does TRIPS stands for?
Trade-Related Aspects of Intellectual Property Rights
Trade Relations of Intellectual Property Rights
Tariffs and Related Aspects of Intellectual Property Rights
Trade-Related Intellectual Property Systems
What does SCM stands for based on what was discussed in Week 11?
Subsidies and Countervailing measures
Subsidiary countervailing measures
Subsidies countervailing measures
Supply chain management
What is the primary objective of the WTO?
Promote trade only within developed nations
Ensure free trade for all nations
Raise standards of living and ensure sustainable development
Provide subsidies for struggling economies
The principle of 'Most-Favored-Nation' (MFN) in WTO means:
Special treatment to the most developed countries
Equal trading treatment for all WTO members
Tariff reduction for agricultural goods
Countries can freely increase tariffs on imports
The WTO’s headquarters is located in:
Geneva
Casablanca
Brussels
New York City
How does the WTO handle disputes between member countries?
Through economic sanctions
Via a special arbitration court outside the WTO
By administering the Dispute Settlement Understanding (DSU)
By allowing member countries to decide individually
The WTO aims to enhance global trade relations while ensuring protection of:
Only the underdeveloped countries
Environmental sustainability
Agricultural subsidies
Dumping
Which council oversees trade in services within the WTO?
Council for Trade in Goods
Council for Trade in Services
Dispute Settlement Body
Trade Policy Review Body
What is a critical feature of the WTO’s dispute settlement process?
It allows countries to impose unilateral trade sanctions
It relies on consensus decision-making
It provides a legal framework for resolving trade disputes
It has no enforcement mechanisms
