2) Which of the following GATT-sponsored global trade deals introduced an intern
ID: 1130341 • Letter: 2
Question
2) Which of the following GATT-sponsored global trade deals introduced an international co for intellectual property rights? a) Dillon Round. b) Kennedy Round. e) Tokyo Round. d) Uruguay Round. e) Doha Round. 3) The GATT principle embodying non-discrimination is: a) reciprocity b) the "most-favored nation" clause. c) binding commitments. d) voluntary compliance e) dispute settlement. 4) Regional economic-integration projects: a) do not need prior approval by the WTO. b) in the form of free-trade areas will have more trade diversion than customs unions. c) are strongly favored by the Trump Administration, compared to bilateral deals. d) in Asia are from now on more likely to be centered on China rather than the US e) have comparative-static effects that are more powerful than their dynamic effects. 5) The European Union started out as a: a) free-trade area. b) customs union. c) common market. d) economic and monetary union. e) political union. 6) Multi-national corporations will expand their production facilities overseas for all of th following reasons except: a) for vertical-integration purposes as for instance when Fiat bought Chrysler in 2009 b) to bypass protectionist bariers targeting their exports from their home market. c) to earn higher returns. d) to secure scarce resource supplies needed for production. e) to gain a better understanding of local customs and market conditions.Explanation / Answer
Answer:- which of the following GATT sponsored global trade deals introduced an international court for intellectual property rights
Correct Answer:- Uruguay Round
Reason:- during the 1986-94 Uruguay Round, WTO's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) was negotiated.
Answer:- the GATT principle embodying non-discrimination is
Correct Answer:- Most Favoured Nation Treatment
Reason: In order to avoid discrimination, GATT has two principles which are Most Favoured Nation Treatment and the national treatment obligation
Answer:- regional economic integration projects
Correct Answer:- do not need prior approval by the WTO
Reason: Different countries are allowed to form the regional economic forums outside of WTO
Answer:- The European Union started out as
Correct Answer:- An economic and monetary union and the euro.
Answer:- multi-national corporations will expand their production facilities overseas for all of the following reasons except:-
Correct Answer:- to gain a better understanding of local customs and market condition
Reason:- The main motto behind expanding the production facilities abroad is to gain from the natural resources and increasing rate of returns.
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