All of the following are considered to be nontariff barriers except
a. voluntary export restraints.
b. health and environmental regulations.
c. quotas.
d. taxes on imports.
Why was agriculture left out of the original General Agreement on Tariffs and Trade (GATT) agreement?
a. It is too diverse.
b. It cannot be included in free trade arrangements, because each country has different standards.
c. It was left out because agriculture interests are extremely powerful politically.
d. It was left out because of too much disagreement and debate among the members of the organization.
Voluntary export restraints (VERs) are
a. limits on the number of an item that can be imported.
b. regulations adopted when one country threatens restrictions on trade and an exporting country agrees to limitexports to avoid the imposition of more stringent limits.
c. restrictions that items to be sold as a domestic product must have a certain percentage of its final productcomponents assembled domestically.
d. quotas that are agreed upon and sanctioned by the WTO.
What is a quota?
a. Qualitative limit on the kind of imported goods
b. Quantitative limit on the number of imported goods
c. Quantitative limit on the number of exported goods
d. Qualitative limit on the kind of exported goods
One major problem of the General Agreement on Tariffs and Trade (GATT) was the exclusion of certain classes of products. One of the most significant classes of product originally excluded from GATT was
a. agricultural.
b. manufactured.
c. automotive.
d. pharmaceuticals.
Quick Reply
