Business

The WTO’s Agreement on which of the following is an attempt to narrow

QUESTION The WTO’s Agreement on which of the following is an attempt to narrow the gaps in the way intellectual property rights are protected around the world and to bring them under common international rules? A. Intellectual Property Rights Enforcement Directive (IPRED) B. Court of Arbitration of Intellectual Property (CAIP) C. Trade-Related Aspects of Intellectual […]

Read full post

Date: September 3rd, 2020

Which of the following is a major reason why many economists remain cr

QUESTION Which of the following is a major reason why many economists remain critical of the infant industry argument? A. It makes the domestic industry inefficient. B. It does not provide guaranteed employment for the citizens. C. It affects the standards of living and per capita income of the people. D. It promotes foreign direct […]

Read full post

Date: September 3rd, 2020

One of the main reasons why many economists remain critical of the inf

QUESTION One of the main reasons why many economists remain critical of the infant industry argument is its reliance on the assumption that: A. protection of manufacturing from foreign competition is harmful. B. absolute advantage cannot sustain productivity of an industry. C. foreign firms too come under the definition of infant industry when they newly […]

Read full post

Date: September 3rd, 2020

Many developing countries have a potential comparative advantage in ma

QUESTION Many developing countries have a potential comparative advantage in manufacturing, but new manufacturing industries cannot initially compete with well-established industries in developed countries, according to: A. economic development argument. B. comparative advantage theory. C. national security argument. D. infant industry argument. E. mixed economy theory.   ANSWER D

Read full post

Date: September 3rd, 2020

According to Krugman, the ideal way for a country to respond, when the

QUESTION According to Krugman, the ideal way for a country to respond, when the foreign competitors of its companies are already being supported by government subsidies, is probably not to engage in retaliatory action, but to: A. help establish rules that minimize the use of trade-distorting subsidies. B. adopt the strategic trade policy as a […]

Read full post

Date: September 3rd, 2020

In the Uruguay Round of the WTO, member countries sought to exempt tra

QUESTION In the Uruguay Round of the WTO, member countries sought to exempt trade in services from GATT rules. Indicate whether the statement is true or false.   ANSWER FALSE Against the background of rising pressures for protectionism, in 1986 GATT members embarked on their eighth round of negotiations to reduce tariffs, the Uruguay Round. […]

Read full post

Date: September 3rd, 2020