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World Trade Organizations Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. Which global organization helps countries and producers of goods deal fairly and smoothly in conducting their business across international borders?

Question 2 2. As of 2013, there were currently how many member countries in the World Trade Organization?

Question 3 3. In what year was the World Trade Organization officially created?

Question 4 4. The purpose of the World Trade Organization is to do what?

Question 5 5. The World Trade Organization essentially replaced which of the following?

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Question 6 6. In many cases, a _____ develops between two countries when they both engage in a series of escalating tariffs, protections, or regulations relative to the import/export relationship between the two.

Question 7 7. A fictional country, Zerosburg, has no environmental or labor standards in their garment manufacturing industry. As a result, they are able to produce clothing at a substantially reduced cost than the United States. These imported products are subject to a 40% penalty for the purpose of leveling the playing field for American businesses. Therefore, the government of the United States has levied a _____.

Question 8 8. Say XYZ Hardware Group sells to home improvement retailers all over the world. When XYZ intentionally sells their lumber for far cheaper prices than the domestic marketplace, what WTO trade priority has been demonstrated?

Question 9 9. Which of the following is NOT a reason that agricultural protectionism is complex and complicated?

Question 10 10. Say XYZ Software has suffered substantial financial losses in certain countries where their software is being illegally copied and distributed by third-parties. Which WTO priority is this scenario indicative of?

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Question 11 11. Which member of GATT failed to ratify the treaty establishing the International Trade Organization?

Question 12 12. How many countries originally signed GATT in 1947?

Question 13 13. What is the purpose of the 'most favored nation' status?

Question 14 14. What does GATT stand for?

Question 15 15. GATT was a provisional agreement that was meant to be replaced by what?

World Trade Organizations Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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