The international trade system Quiz

What is one main difference between PTAs and FTAs?

• PTAs are only multilateral

• PTAs apply only to services

• FTAs cannot be unilateral

What prompted the U.S. to change its trade strategy?

• the rapid rise of developing economies

• the protection of developing economies

• the shift from democratic to republican government

In an FTA between US, Canada and Mexico, the best option for Canada is to:

• immediately join the agreement with the US

• join the agreement later, letting Mexico join first

• join a three-country trade agreement

How many regions of the world are included in the Perroni-Whalley model?

• 6

• 8

• 7

The GATT design under the Us-led trade regime caused:

• more universal binding rules

• higher tariffs

• adjustment programs for workers and firms

Among the objectives countries’ have when seeking regional trade agreements, we don’t find:

• strategic linkage

• strengthening domestic policy reform

• improving diplomatic relations

According to Mansfield and Mutz the American negative attitude toward offshoring is less influenced by:

• their political party of choice

• the individual’s economic self-interest

• ethnocentrism and antiforeign sentiment

What is the main change brought by the RTAA(1934)?

• It granted the president agenda control over tariff setting

• It stipulated individual tariff reduction

• it provided adequate adjustment programs for firms and workers

What are the main challenges for the International Trade System?