POS 486 MIDTERM EXAM

 Question 1

2.5 out of 2.5 points

Which of the following is NOT a policy that trade liberalization would seek to

eliminate?

Selected

Answer: 2.

trade

agreements

Correct

Answer: 2.

trade

agreements

Response

Feedback:

Refer to Chapter 1, pp. 22-24, and Assignment 1

 Question 2

2.5 out of 2.5 points

Which of the following does NOT describe the WTO?

Selected

Answer: 2.

was drafted in Havana, Cuba

in 1948

Correct

Answer: 2.

was drafted in Havana, Cuba

in 1948

Response

Feedback

:

The questions asks which is NOT correct. We know that a trade

institution was discussed at Bretton Woods but not created. We

also know that the WTO didn't come into creation until 1995,

with the GATT guiding international trade from 1947-1994. We

have also learned that it covers international trade for most

countries globally, that it has a broad mandate, and that it

expanded GATT. Therefore, the correct answer is 2. See

Chapter 2/Lecture 2.

 Question 3

2.5 out of 2.5 points

The WTO relies on

Selected

Answer: 1.

agreement by

consensus

Correct

Answer: 1.

agreement by

consensus

 1 / 2

Response

Feedback:

See Chapter 2/Lecture 2 on decision-making in WTO,

intergovernmental bargaining, multiyear rounds and difficulty

getting consensus.

 Question 4

2.5 out of 2.5 points

The majority of regional trade agreements

Selected

Answer: 4.

are Free Trade

Areas

Correct

Answer: 4.

are Free Trade

Areas

Response

Feedback:

See Chapter 2. For those of us who are visual learners, Oatley

has provided quite a graphic representation on p. 37.

 Question 5

2.5 out of 2.5 points

The enforcement problem of trade agreements refers to the fact that

Selected

Answer: 2.

governments cannot be certain that other governments will

comply with the trade agreements they conclude

Correct

Answer: 2.

governments cannot be certain that other governments will

comply with the trade agreements they conclude

Response

Feedback:

Refer to pp.

58-59

 Question 6

2.5 out of 2.5 points

If more trade is created than diverted, a regional trade agreement (RTA)

Selected

Answer: 2.

has liberalized

trade

Correct

Answer: 2.

has liberalized

trade

Response

Feedback:

Refer to p.

40

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