21. Which of the following is a tax levied on imported goods? A. Non-tariff barrier B. Embargo C. In

21. Which of the
following is a tax levied on imported goods?
A. Non-tariff barrier
B. Embargo
C. Indirect barrier
D. Tariff
E. Dumping

22. Which
of the following are examples of non-tariff barriers?
A. Quotas
B. Embargoes
C. Indirect barriers
D. Quotas and embargoes, but not indirect barriers
E. Quotas, embargoes, and indirect barriers

23. Which
of the following is a comprehensive multilateral trading system designed to
achieve distortion-free international trade through the minimization of tariffs
and removal of artificial barriers?
A. The International Agreement on Non-tariffs and Trade
B. The World Trade Organization Agreement
C. The General Agreement on Tariffs and Trade
D. The North American Free Trade Agreement
E. The European Free Trade Agreement
24. The ____ facilitates international cooperation in
opening markets and provides a forum for future trade negotiations and the
settlement of international trade disputes.
A. World Trade Organization
B. Generally Favored Nation Organization
C. National Trade Organization
D. International Cooperation Agreement
E. International Marketing Agreement

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25. The
_____ principle requires that World Trade Organization member states treat like
goods coming from other World Trade Organization member states on an equal
basis.
A. Normal trade relations
B. The like treatment
C. The quantitative restrictions
D. The nondiscriminatory
E. The fairness
26. Which
of the following is a practice wherein an exporter sells products in a foreign
state for less than the price charged for the same or comparable goods in the
exporter’s home market?
A. Price cutting
B. Disposal
C. Dumping
D. Profit maximizing
E. Subsidizing
27. Which of the following is one of the three basic
types of subsidies?
A. Indirect subsidy
B. Actionable subsidy
C. International subsidy
D. Group subsidy
E. Quantitative subsidy

28. The
____ allows recognized governments of WTO member states to bring an action
alleging a violation of the GATT.
A. Trade barrier agreement
B. Mediation/arbitration agreement
C. World dispute resolution agreement
D. Dispute settlement understanding
E. None of the above
29. Which
of the following countries are signatories to the North American Free Trade
Agreement?
A. United States, Canada, and Japan
B. United States, Canada, and Mexico
C. Canada, Mexico, and Great Britain
D. England, France, and Italy
E. England, France, and Spain
30. A
____ is a free trade area with the additional feature of a common external
tariff on products originating from outside the union.
A. Customs union
B. Free trade union
C. External tariff union
D. International tariff union
E. Customs trade union