Week 4_C2_TRADE INSTITUTIONS & TRADE POLICY

Question 1

WORLD TRADE ORGANIZATION

created on ________________, marked the biggest reform of international trade since the end of the Second World War

Answer 1

1 January 1995

Question 2

created on 1 January 1995, marked the biggest reform of international trade since the end of the Second World War

Answer 2

WORLD TRADE ORGANIZATION

Question 3

• is the only global international organization dealing with the rules of trade between nations

Answer 3

WORLD TRADE ORGANIZATION

Question 4

WORLD TRADE ORGANIZATION HAS —- MEMBER STATES

Answer 4

164 member states

Question 5

WORLD TRADE ORGANIZATION:
organization for ______________

Answer 5

trade opening

Question 6

WORLD TRADE ORGANIZATION
___________________ to negotiate trade agreements

Answer 6

forum for governments

Question 7

organization for trade opening

Answer 7

WORLD TRADE ORGANIZATION

Question 8

forum for governments to negotiate trade agreements

Answer 8

WORLD TRADE ORGANIZATION

Question 9

WORLD TRADE ORGANIZATION
place for them to settle _____________

Answer 9

trade disputes

Question 10

place for them to settle trade disputes

Answer 10

WORLD TRADE ORGANIZATION

Question 11

operates a system of trade rules

Answer 11

WORLD TRADE ORGANIZATION

Question 12

WORLD TRADE ORGANIZATION:
operates a system of ____________

Answer 12

trade rules

Question 13

place where member governments try to sort out the trade problems they face with each other

Answer 13

WORLD TRADE ORGANIZATION

Question 14

WORLD TRADE ORGANIZATION
place where member governments try to _____________ the trade ________ they face with each other

Answer 14

sort out
problems

Question 15

INTERNATIONAL MONETARY FUND
conceived in ____ during the Bretton Woods Conference with 44 representative, but created in 1945

Answer 15

1944

Question 16

INTERNATIONAL MONETARY FUND
conceived in 1944 during the ______________________ with 44 representative, but created in 1945

Answer 16

Bretton Woods Conference

Question 17

INTERNATIONAL MONETARY FUND
conceived in 1944 during the Bretton Woods Conference with _____ representative, but created in 1945

Answer 17

44

Question 18

INTERNATIONAL MONETARY FUND
conceived in ______ during the Bretton Woods Conference with 44 representative, but created in ______

Answer 18

1944
1945

Question 19

foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world

Answer 19

INTERNATIONAL MONETARY FUND

Question 20

primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with each other

Answer 20

INTERNATIONAL MONETARY FUND

Question 21

fundamental mission in three ways: surveillance, lending and capacity
development

Answer 21

International Done Fund

Question 22

INTERNATIONAL MONETARY FUND HAS _____ MEMEBER COUNTRIES

Answer 22

190

Question 23

INTERNATIONAL MONETARY FUND

foster ____________________, secure _________________, facilitate ________________, promote _________________ and sustainable __________________, and reduce ________ around the world

Answer 23

global monetary cooperation
financial stability
international trade
high employment
economic growth
poverty

Question 24

INTERNATIONAL MONETARY FUND

primary purpose is to ensure the stability of the ______________________________—the system of _________________ and ____________________ that enables countries (and their citizens) to transact with each other

Answer 24

international monetary system
exchange rates
international payments

Question 25

INTERNATIONAL MONETARY FUND fundamental mission in three ways: (3)

Answer 25

surveillance, lending and capacity development

Question 26

* initially formed in 1944 also during Bretton Woods Conference to aid countries suffering from the destruction of war

Answer 26

WORLD BANK

Question 27

is a unique global partnership working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.

Answer 27

WORLD BANK

Question 28

WORLD BANK initially formed in ______ also during Bretton Woods Conference to aid countries suffering from the destruction of war

Answer 28

1944

Question 29

WORLD BANK initially formed in 1944 also during _____________________________ to aid countries suffering from the destruction of war

Answer 29

Bretton Woods Conference

Question 30

WORLD BANK HAS ___ MEMBER COUNTRIES

Answer 30

189

Question 31

INTERNATIONAL MONETARY FUND conceived in 1944 during the ____________________________ with 44 representative, but created in 1945

Answer 31

Bretton Woods Conference

Question 32

FIVE INSTITUTIONS OF World Bank

Answer 32

1. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT 2. INTERNATIONAL DEVELOPMENT ASSOCIATION 3. INTERNATIONAL FINANCE CORPORATION 4. MULTILATERAL INVESTMENT GUARANTEE AGENCY 5. INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES

Question 33

REGIONAL INSTITUTIONS (5)

Answer 33

EUROPEAN UNION (EU) ASSOCIATION OF SOUTHEAST ASIAN NATION (ASEAN) NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA) MERCOSUR (Latin America) GULF COOPERATION COUNCIL (GCC)

Question 34

* are, in a sense, international organizations, as they incorporate international membership and encompass geopolitical entities that operationally transcend a single nation state.

Answer 34

REGIONAL INSTITUTIONS

Question 35

__________ are special because they can affect currency values and the fiscal and monetary policies of governments, shape public perception of competitiveness, and determine the level of imports a country can afford.

Answer 35

Exports

Question 36

On the ___________ side, firms become exposed to new competition, which may offer new approaches, better processes, or better products and services.

Answer 36

import

Question 37

_________________ tends to be concentrated in specific sectors, where the foreign investors believe they are able to contribute the best and benefit the most from their investment.

Answer 37

Foreign direct investment

Question 38

As a result of ______________, some individuals and policymakers may grow concerned about dependency on foreign owners, even though firm proof for the validity of such concern has been difficult to establish.

Answer 38

foreign investment OR Foreign direct investment

Question 39

The word policy implies that there is a coordinated set of continuous activities in the legislative and executive branches of government to attempt to deal with U.S. international trade. Unfortunately, such concerted efforts only rarely come about. Policy responses have consisted mainly of political ad hoc reactions, which over the years have changed from deep regret to protectionism.

Answer 39

POLICY RESPONSES TO Trade Problems

Question 40

POLICY RESPONSES TO Trade Problems The word _______ implies that there is a coordinated set of continuous activities in the legislative and executive branches of government to attempt to deal with U.S. international trade. Unfortunately, such concerted efforts only rarely come about.

Answer 40

policy

Question 41

POLICY RESPONSES TO Trade Problems ________ responses have consisted mainly of political ad hoc reactions, which over the years have changed from deep regret to protectionism.

Answer 41

Policy