Economics MCQs

A. Kennedy round of 1964-1967
B. Tokyo round of 1973-1979
C. Uruguay round of 1986-1993
D. Doha round of 2003-2007

A. World bank
B. International trade commission
C. Department of justice
D. World trade organization

A. a. increase
B. decrease
C. not change
D. none of these

A. The price of radios in mexico equals $60 and its imports equal 30 radios
B. The price of radios in mexico equals $30 and its imports equal 30 radios
C. The price of radios in mexico equals $40 and its imports equals 20 radios
D. Th price of radios in mexico equals $20 and its imports equal 40 radios

A. Bilateral tariff reductions to promote trade liberalization
B. The use of the most-favored nation clause (normal trade relations)
C. Nondiscrimination in trading relationships
D. The prohibition of import quotas and export quotas

A. General agreement on tariffs and trade
B. World trade organization
C. Smoot hawley organization
D. Mckinley agreement on trade policy

A. Domestic workers lobbying for import restriction
B. Domestic workers lobbying for export restrictions
C. Domestic consumers lobbying for export restrictions
D. Domestic consumers lobbying for import restrictions

A. Charge the nation’s products a lower tariff than any other nation’s
B. Charge that nation’s products a tariff rate no higher than that on any other nation
C. Charge that nation’s products a higher tariff than any other nation’s
D. Exports to that nation any products that it wants to purchase

A. Foreign dumping of goods in the u.s
B. Subsidies granted to foreign firms that export to the u.s
C. Buy national policies of foreign government
D. Stringent environmental regulations of foreign government s

A. deficit budget
B. reduction in taxation
C. increase in public expenditure
D. reverse of inflation