Which of the following statements is true of the World Trade Organization (WTO Quizlet)

Q: Which of the following is a goal of the World Trade Organization quizlet?

The World Trade Organizations main goal is to eliminate or reduce trade barriers and promote trade. Customs officials sell imported products in government-owned stores. The GATT agreement was replaced by the World Trade Organization.

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Which statement is true about the World Trade Organization WTO )?
Which of the following is true about the World Trade Organization WTO )? Quizlet?
What is the World Trade Organization WTO quizlet?
Which of the following is a goal of the World Trade Organization quizlet?

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In the context of foreign direct investment, which of the following statements is true of a partnership?

a. It is also known as domestic franchising.

b. It is the most basic level of international market
development.

c. It is the most costly form of direct investment.

d. It is a formal, long-term agreement.

In the context of international trade, which of the following statements is true of comparative advantage?

a. It is subjected to the industries in developing
countries facing major trade barriers.

b. Despite evolving workforces, developing
countries maintain a static comparative
advantage.

c. As technology changes, nations may gain or
lose comparative advantage in various
industries.

d. It is the tendency of a country to choose goods
that have a higher opportunity cost compared
to other countries.

c. As technology changes, nations may gain or lose comparative advantage in various industries.

Trade restrictions were created to:

a. protect national security interests.

b. use resources more efficiently on a worldwide
basis.

c. build exporting opportunities through better
relationships with other countries.

d. increase jobs from foreign companies.

a. protect national security

Which of the following is a function of the International Monetary Fund (IMF)?

a. Increasing jobs from foreign companies

b. Using resources efficiently on a worldwide basis

c. Promoting global trade

d. Introducing common markets

c. Promoting global trade

An electronics company wants to set up a subsidiary in an Asian country. After conducting a survey, the company finds that the country lacks the resources required for production, resulting in the company abandoning the idea. In this scenario, which of the following most likely affected the company's plan?

a. Absence of plentiful capital

b. Limited access to factors of production

c. Economic dependence in the international
market

d. Lack of innovative ideas

b. Limited access to factors of production

Which of the following countries most likely has a comparative advantage?

a. An Asian country that manufactures more textile
products than most countries by decreasing its
production of tea

b. An Asian country that produces quality
automobiles with little opportunity cost
compared to other countries

c. A North American country that expands its trade
relations to a neighboring country to share
resources

d. A South American country that produces more
coffee compared to an Asian country despite
having equal resources

b. An Asian country that produces quality
automobiles with little opportunity cost
compared to other countries

The total value of the goods exported by a South American country in the last fiscal year was lower in comparison to the total value of the goods imported by it. Given this information, the country had a _____ in the last fiscal year.

a. balance of payments deficit

b. trade deficit

c. balance of payments surplus

d. trade surplus

b. trade deficit

A European country is able to produce more electronics than the US even though both countries use the same amount of resources. Given this information, it can be deduced that the European has a(n):

a. higher trade surplus than the US.

b. higher balance of payments surplus than the
US.

c. comparative advantage over the US.

d. absolute advantage over the US.

In the context of emerging economies, which of the following statements is true of the BRIC countries?

a. China is the only BRIC country that has an
economy larger than the United States.

b. Brazil has a high employment rate and stands
out to be the lone bright spot among the BRIC
countries.

c. India's subscriber base for cell phones has
grown explosively over the past five years.

d. Over the past few years, China has seen a rapid
growth in the number of low-wage
manufacturing jobs.

c. India's subscriber base for cell phones has
grown explosively over the past five years.

In the context of global trade, which of the following statements is true of balance of payments?

a. It excludes overseas investments.

b. Its surplus indicates more money flowing out
than in.

c. Its deficit indicates more money flowing in than
out.

d. It includes foreign borrowing and lending.

In the context of global trade, a balance of payments deficit means that:

a. foreign payments and receipts are excluded
from calculating the balance of payments.

b. more money flows out than in.

c. more money flows in than out.

d. foreign borrowing and lending are excluded
from calculating the balance of payments.

b. more money flows out than in.

Which of the following statements is true of international trade?

a. It offers companies an invaluable source of new
ideas.

b. It reduces a firm's opportunity to tap into
growing new markets.

c. It increases the economic risk for multinational
companies.

d. It increases a firm's dependence on its domestic
economy.

a. It offers companies an invaluable source of new
ideas.

Food company A. introduced a new flavor of potato chips. It received a positive response from consumers, which prompted food company B., to introduce its own flavored chips. In this scenario, which of the following is most likely to have influenced company A. to produce a product similar to company B.?

a. Reduced risk

b. Establishment of new industries

c. Inflow of innovation

d. Access to factors of production

c. Inflow of innovation

Compared to the United States, China and India have:

a. lower population.

b. higher gross domestic product growth rates.

c. smaller market size.

d. higher per capita gross domestic products.

b. higher gross domestic product growth rates.

Which of the following statements is true of the World Trade Organization (WTO)?

a. Ministers of the WTO meet every two years to
address current world trade issues.

b. It is beyond the scope of the WTO to monitor
the provisions of the General Agreement on
Tariffs and Trade.

c. Established in the aftermath of World War II, the
WTO is an international cooperative of 188
member countries.

d. Although it promotes international trade, it lacks
the ability to settle international trade disputes.

a. Ministers of the WTO meet every two years to
address current world trade issues.

In the context of international trade, India, China, and the Philippines attract multibillion-dollar investments because:

a. they have a large cohort of technically skilled
university graduates who work for about one-
fifth the pay of comparable American workers.

b. the level of risk associated with establishing
business relationships with firms belonging to
the Asian market is minimal.

c. the value of the euro is lower in the Asian
market than in the American market.

d. they are more developed than any other
developed country in the world.

a. they have a large cohort of technically skilled
university graduates who work for about one-
fifth the pay of comparable American workers.

Which of the following countries has a trade surplus?

a. An Asian country whose total value of exports
exceeds its total value of imports

b. An African country that imports most of its
products from other countries

c. A South American country whose total value of
exports and imports is equal

d. A European country whose total value of
imports exceeds its total value of exports

a. An Asian country whose total value of exports
exceeds its total value of imports

In the context of the strategies for reaching global markets, which of the following statements is true of exporting?

a. It is colloquially known as foreign outsourcing.

b. It is ineffective for small and mid-sized
companies.

c. It means producing products abroad and selling
them domestically.

d. It is the most basic level of international market
development.

An African multinational company wants to import raw materials from an Asian country. However, the company can import only a certain quantity of raw materials because of trade restrictions imposed by Asia. In this scenario, the African company is most likely facing the barrier of _____.

a. economic differences

b. sociocultural differences

c. political differences

d. legal differences

Who among the following is most likely to benefit in a case where there is a weak dollar against a euro?

a. An American who is touring Europe.

b. An American firm with European operations.

c. An American firm that imports goods from
Europe.

d. An American who exports goods to Europe.

Which statement is true about the World Trade Organization WTO )?

The correct option is (D). The General Agreement on Tariffs and Trade (GATT) created the World Trade Organization. GATT is an agreement which in place from 1948 to 1994 which is then replaced by WTO. GATT deals in trade in goods while WTO deals in both goods and services.

Which of the following is true about the World Trade Organization WTO )? Quizlet?

Which of the following statements is true of the World Trade Organization (WTO)? It ensures that trade between nations flows as predictably and freely as possible.

What is the World Trade Organization WTO quizlet?

What is the WTO? It is the international organisation dealing with the global rules of trade between nations in a global or near a global level. What is the main function of the WTO? Its main function is to liberalise trade so it ensures that trade flows as smoothly, predictably and as freely as possible.

Which of the following is a goal of the World Trade Organization quizlet?

The World Trade Organization's main goal is to eliminate or reduce trade barriers and promote trade. Customs officials sell imported products in government-owned stores. The GATT agreement was replaced by the World Trade Organization.