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ECO 3703-100: International Economics, exam 2 Terms in this set (37) What is the purpose of the IMF, WTO, and the World Bank? IMF central focus is on the international monetary and financial system, and WTO's is on the international trading system, b$7.99
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ECO 3703-100: International Economics, exam 2 Terms in this set (37) What is the purpose of the IMF, WTO, and the World Bank? IMF central focus is on the international monetary and financial system, and WTO's is on the international trading system, b
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Course
GED - General Educational Development
Institution
GED - General Educational Development
ECO 3703-100: International Economics, exam 2
Terms in this set (37)
What is the purpose of the IMF, WTO, and the World Bank? IMF central focus is on the international monetary and financial system, and WTO's is on the international trading system, both work together. World Bank goal is to prov...
ECO 3703-100: International Economics, exam 2
Jeremiah
Terms in this set (37)
IMF central focus is on the international monetary and financial system, and WTO's is on
What is the purpose of the IMF, WTO, and
the international trading system, both work together. World Bank goal is to provide
the World Bank?
financial and technical assistance to developing countries.
1. Administering trade agreements.
2. Acting as a forum for trade negotiation.
3. Settling trade disputes.
How does the WTO promote trade? 4. Reviewing national trade policies.
5. Assisting the development of countries in their policy issues, through technical
assistance and trading programs.
6. Cooperating with other international organizations.
1. Trade without discrimination for MFN (Most-Favored-Nation), MFN means the country
is a WTO member.
2. Freer trade: gradually, through negotiation
What are the basic principles of WTO 3. Predictability: through binding and transparency.
4. Promoting fair competition.
5. Encouraging development and economic reform.
6. National treatment: treating foreigners and domestic firms equally.
What does it mean by Most Favored Nation MFN (Most Favored National) status mean that country is a member of the WTO (World
status? Trade Organization).
Intellectual property protection is critical to fostering innovation. Without protection of
Why is it important to protect intellectual
ideas, businesses and individuals would not reap the full benefits of their inventions.
property?
Thus, put less capital into R&D
Geographical indications are understood by consumers to denote the origin and the
Why is it important to protect geographical
quality of the product. Many Geo indicators have acquired valuable reputation which, if
indications ?
not protected could be misrepresented.
Scotch whisky = Scotland
What are some examples of geographical
Bohemian crystal = Bohemia region
indications?
Camembert cheese = Camembert in Normandy France
ECO 3703-100: International Economics, exam 2
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