Answer the following statements true (T) or false (F)
1. The WTO is a specialized agency for the United Nations focused on the promotion of social justice and internationally-recognized human and labor rights.
2. The WTO provides a forum for negotiating and enforcing global trade agreements between participating countries.
3. For signatory countries to the WTO, quotas limiting imports are considered a trade barrier and therefore should be minimized or eliminated.
4. If a signatory country to the WTO wants to pass a law to establish higher product standards for a particular import, it must be able to produce scientific evidence supporting the need for these standards.
5. Fair trade and free trade are basically the same concepts.
1. FALSE
2. TRUE
3. TRUE
4. TRUE
5. FALSE
You might also like to view...
When units produced exceed units sold, how does operating income differ between variable costing and absorption costing? Assume no beginning Finished Goods Inventory. Explain your answer.
What will be an ideal response?
Electronic funds transfers (EFTs) are decreasingly used by companies due to the inconvenience and high cost.
Answer the following statement true (T) or false (F)
As a leader, you should know your “listening style preference,” but there is little difference since most styles work in most situations.
a. True b. False
Salubre Pharmaceuticals invested $3.4 billion dollars to develop a new drug for individuals with diabetes. After Salubre receives FDA approval of the drug, its marginal cost to produce the drug for market will be
A. low. B. unpredictable. C. high. D. moderate.