Exercise 3. A)Multiple choice questions: names and dates (only one correct answer exists).

A) Multiple choice questions: names and dates (only one correct answer exists).

Q1: What is the ITO? (p. 218)

(a) Internal Tropical Organisation

(b) International Tariff Organisation

(c) International Trade Organisation

(d) International Tourism Office

Q2: When did the ITO exist? (pp. 217-218)

(a) It was created in 1995.

(b) It was created in 1948.

(c) It has never existed.

(d) It has been suspended in 1995.

Q3: What is the GATT? (p. 218)

(a) Generalised Aid to Tropical Trade

(b) Governmental Agreement on Tax and Tariffs

(c) General Aid to Tariffs and Taxes

(d) General Agreement on Tariffs and Trade

Q4: When was the GATT created? (p. 218)

(a) 1973

(b) 1948

(c) 1995

(d) 1944

Q5: What is the WTO? (p. 218)

(a) Whale Trade Organisation

(b) World Trade Organisation

(c) World Tourism Office

(d) World Technology Operation

Q6: When was the WTO created? (p. 218-9)

(a) 1973

(b) 1948

(c) 1995

(d) 1944

Q7: In which decade was the Kennedy Round held? (p. 220)

(a) the nineties

(b) the sixties

(c) the seventies

(d) the eighties

Q8: In which decade was the Tokyo Round held? (p. 220)

(a) the nineties

(b) the sixties

(c) the seventies

(d) the eighties

Q9: In which decade(s) was the Uruguay Round held? (p. 220)

(a) the eighties and nineties

(b) the sixties and seventies

(c) the new millennium

(d) the eighties

Q10: Under what name did the WTO propose its trade negotiation round in 1999? (p. 224)

(a) Washington Round

(b) Millennium Round

(c) Clinton Round

(d) Poverty Round

B) Which of the following statements are true in the context of the GATT? Note: more than one correct answer exists. (pp. 218-219)

(a) The world’s principal trade organisation between 1948 and 1995.

(b) It primarily aimed at the lowering of non-trade barriers.

(c) Its most significant results were achieved in the area of agriculture.

(d) It is a fixed-rule system.

(e) It was based on the principle of multilateralism.

(f) It was based on the principle of unilateralism.

(g) Its rules were extended without discrimination to all member states.

(h) It sharpened the conflict between the developing and the developed nations.

(i) It embraced general reciprocity.

(j) It incorporated provisions for the impartial adjudication of disputes.

(k) It was founded on the principle of conditional reciprocity.

(l) It had the authority to deal with intellectual property rights.

(m) It lacked an adequate dispute-settlement mechanism.

(n) It dealt with preferential arrangements sufficiently.

(o) It was founded on the principle of transparency.

(p) It created a forum for trade discussion.

D) Multiple choice questions (only one correct answer exists).

Q1: What did the so-called “new trade agenda” include? (p. 225)

(a) highly controversial issues

(b) dumping issues

(c) agricultural issues

(d) NGOs

Q2: What type of highly controversial issues did the “new trade agenda” include? (p. 225)

(a) international sovereignty, the abolishment of national governments

(b) labour standards, human rights, environment

(c) labour standards, international sovereignty, child labour

(d) computer standards, citizens’ rights, environment

Q3: According to the powerful groups of the developed world, … (p. 225)

(a) these highly controversial issues should not be incorporated into the international trade regime.

(b) these highly controversial issues must not be incorporated into the international trade regime.

(c) these highly controversial issues have been already incorporated into the international trade regime.

(d) these highly controversial issues should be incorporated into the international trade regime.

Q4: Economists, on the other hand, … (pp. 226-7)

(a) strongly advocate the integration of trade liberalisation with these issues.

(b) strongly oppose the desintegration of trade liberalisation with these issues.

(c) strongly oppose the integration of trade liberalisation with these issues.

(d) strongly advocate the integration of trade liberalisation with the abolishment of the WTO.

Q5: Which group rejects the idea that labour standards and human rights should be incorporated into trade negotiations? (p. 228)

(a) trade unions

(b) protesters on the streets of Seattle

(c) economists

(d) politicians

Q6: What solution does the textbook provide to the associated problems of human rights, child labour and labour standards? (p. 229)

(a) There is a need for an integration of all of these highly controversial issues.

(b) There is no need for a combination of these highly controversial issues.

(c) There is a need for a combination of education and economic development.

(d) There is a need for a combination of theory and practice.

Q7: Which groups have formed an “unholy alliance” against the WTO? (p. 229)

(a) trade unions, politicians, economists

(b) human rights activists, cosmopolitan isolationsists

(c) environmentalists, economists, human rights activists

(d) trade unions, ultraconservative neoisolationsists, environmentalists

Q8: Which institutions have become the symbols of globalisation and its negative effects? (p. 230)

(a) Republican Party, Treasury

(b) WTO, World Bank, IMF

(c) ILO, UNCTAD, UN

(d) UNCTAD, LDCs, WTO

Q9: Which of the following statement is correct? (p. 230)

(a) The IMF is a supergovernment that could legislate new laws.

(b) The WTO is not a supergovernment that could legislate new laws.

(c) The WTO is a supergovernment that could legislate new laws.

(d) The WTO is a supergovernment that, however, cannot legislate new laws.

Q10: Which of the following statements characterises each of the major participants (i.e., the USA, Japan and the EU)? (p. 232)

(a) Trade has been abolished due to its negative effects.

(b) Trade has been reduced substantially due to the misunderstandings amongst the three major players of the world market.

(c) Domestic political objectives took precedence over trade liberalisation.

(d) International objectives took precedence over trade liberalisation.

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