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IBA Chapter 2 CGG Exam Study Guide
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IBA Chapter 2 CGG Exam StudyGuide
How did GATT prevent the repeat of the economic disaster that occurred after World
War I? - Answer It provided a forum for member countries to negotiate a reduction of
tariffs and other barriers to trade.
Which statements accurately describes the General Agreement on Tariffs and Trade
(GATT)? - Answer it created an agency to act as a watchdog over world trade
After World War II, the United States set out to infuse the ideal of capitalism throughout
as much of the world as possible. As a result, most of the noncommunist economies in
the world - Answer grew significantly
The World Bank estimates that five countries whose share of world trade is barely
one-third that of the European Union will, by 2020, have a 50 percent higher share than
that of the European Union. Which of these countries is included on this list? - Answer
indonesia
In a balance-of-payments record, the current account is a record of direct investment,
portfolio investment, and short-term capital movements to and from countries. - Answer
false
Rishi, a protectionist, has seen several small businesses go bankrupt because they
were unable to compete with the cheaper prices of goods provided by foreign
companies. The cellphone manufacturing industry has just started in the United
Kingdom, and Rishi's company is one of the first to try its hand at cellphone
manufacturing. What argument is most likely to be used by Rishi to persuade his
government to restrict the import of foreign cellphones from foreign companies? -
Answer protection of an infant industry
What is one of the four ongoing activities that support the growth of international trade?
- Answer international monetary fund
Which statement accurately explains the status of protests against global financial
institutions? - Answer The "antisweatshop" campaigns by students in America have
translated into changes in policy.
What is a basic criticism of global financial institutions? - Answer They failed to foresee
and counter the unintended effects of globalization like pollution, exploitation, and
cultural extinction.
The Marshall Plan was developed by the United States as a method to assist Europe in
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