International Economic Law

Description: This quiz will test your knowledge of International Economic Law.
Number of Questions: 15
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Tags: international law international economic law trade law investment law intellectual property law
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What is the primary objective of the World Trade Organization (WTO)?

  1. To promote free trade among member countries

  2. To regulate international trade in goods and services

  3. To protect the intellectual property rights of member countries

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The primary objective of the WTO is to promote free trade among its member countries by reducing trade barriers and ensuring that trade is conducted in a fair and equitable manner.

Which of the following is not a principle of the WTO?

  1. Most-favored-nation treatment

  2. National treatment

  3. Reciprocity

  4. Non-discrimination


Correct Option: C
Explanation:

Reciprocity is not a principle of the WTO. The three principles of the WTO are most-favored-nation treatment, national treatment, and non-discrimination.

What is the purpose of the General Agreement on Tariffs and Trade (GATT)?

  1. To reduce tariffs and other trade barriers

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the GATT is to reduce tariffs and other trade barriers between member countries in order to promote free trade.

What is the difference between a tariff and a non-tariff barrier?

  1. A tariff is a tax on imported goods, while a non-tariff barrier is a regulation that restricts trade

  2. A tariff is a tax on exported goods, while a non-tariff barrier is a regulation that promotes trade

  3. A tariff is a tax on both imported and exported goods, while a non-tariff barrier is a regulation that restricts trade

  4. A tariff is a tax on both imported and exported goods, while a non-tariff barrier is a regulation that promotes trade


Correct Option: A
Explanation:

A tariff is a tax imposed on imported goods, while a non-tariff barrier is a government regulation that restricts trade. Non-tariff barriers can include quotas, embargoes, and technical regulations.

What is the purpose of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS)?

  1. To protect intellectual property rights in member countries

  2. To promote the transfer of technology to developing countries

  3. To reduce tariffs on intellectual property products

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the TRIPS Agreement is to protect intellectual property rights in member countries by setting minimum standards for the protection of patents, copyrights, trademarks, and other forms of intellectual property.

What is the purpose of the Agreement on Agriculture?

  1. To reduce subsidies and other trade-distorting measures in agriculture

  2. To promote fair trade practices in agriculture

  3. To protect intellectual property rights in agriculture

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the Agreement on Agriculture is to reduce subsidies and other trade-distorting measures in agriculture in order to promote free trade in agricultural products.

What is the purpose of the Agreement on Textiles and Clothing?

  1. To eliminate quotas and other restrictions on textiles and clothing trade

  2. To promote fair trade practices in textiles and clothing

  3. To protect intellectual property rights in textiles and clothing

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the Agreement on Textiles and Clothing is to eliminate quotas and other restrictions on textiles and clothing trade in order to promote free trade in these products.

What is the purpose of the Agreement on Technical Barriers to Trade (TBT)?

  1. To reduce technical barriers to trade

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the TBT Agreement is to reduce technical barriers to trade by ensuring that technical regulations and standards are not used as a means of protectionism.

What is the purpose of the Agreement on Sanitary and Phytosanitary Measures (SPS)?

  1. To reduce sanitary and phytosanitary barriers to trade

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the SPS Agreement is to reduce sanitary and phytosanitary barriers to trade by ensuring that sanitary and phytosanitary regulations are not used as a means of protectionism.

What is the purpose of the Agreement on Trade in Services (GATS)?

  1. To reduce barriers to trade in services

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the GATS Agreement is to reduce barriers to trade in services by ensuring that services are traded in a fair and equitable manner.

What is the purpose of the Agreement on Trade-Related Investment Measures (TRIMs)?

  1. To reduce trade-related investment measures that are inconsistent with the WTO Agreement

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the TRIMs Agreement is to reduce trade-related investment measures that are inconsistent with the WTO Agreement in order to promote free trade and investment.

What is the purpose of the Agreement on Subsidies and Countervailing Measures (SCM)?

  1. To reduce subsidies and countervailing measures that are inconsistent with the WTO Agreement

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the SCM Agreement is to reduce subsidies and countervailing measures that are inconsistent with the WTO Agreement in order to promote free trade and fair competition.

What is the purpose of the Agreement on Anti-Dumping Measures?

  1. To reduce anti-dumping measures that are inconsistent with the WTO Agreement

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the Agreement on Anti-Dumping Measures is to reduce anti-dumping measures that are inconsistent with the WTO Agreement in order to promote free trade and fair competition.

What is the purpose of the Agreement on Safeguards?

  1. To reduce safeguards that are inconsistent with the WTO Agreement

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the Agreement on Safeguards is to reduce safeguards that are inconsistent with the WTO Agreement in order to promote free trade and fair competition.

What is the purpose of the Agreement on Rules of Origin?

  1. To reduce rules of origin that are inconsistent with the WTO Agreement

  2. To promote fair trade practices

  3. To protect intellectual property rights

  4. To promote economic development in developing countries


Correct Option: A
Explanation:

The purpose of the Agreement on Rules of Origin is to reduce rules of origin that are inconsistent with the WTO Agreement in order to promote free trade and fair competition.

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