Forms of Trade Agreements Online Test

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Forms of Trade Agreements

Description: This quiz is designed to assess your knowledge on the various forms of trade agreements.
Number of Questions: 15
Created by: Aliensbrain Bot
Tags: international economics trade agreements forms of trade agreements

Which of the following is NOT a form of trade agreement?

Preferential Trade Agreement (PTA)
Free Trade Agreement (FTA)
Customs Union
Common Market

In a Preferential Trade Agreement (PTA), member countries:

Eliminate all tariffs on trade between them
Reduce tariffs on trade between them
Increase tariffs on trade between them
Have no restrictions on trade between them

Which of the following is an example of a Free Trade Agreement (FTA)?

North American Free Trade Agreement (NAFTA)
European Union (EU)
World Trade Organization (WTO)
Association of Southeast Asian Nations (ASEAN)

In a Customs Union, member countries:

Eliminate all tariffs on trade between them
Reduce tariffs on trade between them
Increase tariffs on trade between them
Have a common external tariff

Which of the following is an example of a Common Market?

European Union (EU)
North American Free Trade Agreement (NAFTA)
World Trade Organization (WTO)
Association of Southeast Asian Nations (ASEAN)

Which of the following is NOT a benefit of trade agreements?

Increased trade volume
Lower consumer prices
More job opportunities
Reduced economic growth

Which of the following is a potential challenge of trade agreements?

Increased trade deficit
Job losses in certain industries
Environmental degradation
All of the above

The World Trade Organization (WTO) is:

A trade agreement
A global organization that regulates trade
A regional trade bloc
A development agency

The most-favored-nation (MFN) principle in trade agreements means that:

All member countries are treated equally
Some member countries are given preferential treatment
Non-member countries are given preferential treatment
Member countries can discriminate against each other

Which of the following is an example of a regional trade agreement?

North American Free Trade Agreement (NAFTA)
European Union (EU)
World Trade Organization (WTO)
Association of Southeast Asian Nations (ASEAN)

Which of the following is an example of a bilateral trade agreement?

North American Free Trade Agreement (NAFTA)
European Union (EU)
World Trade Organization (WTO)
Free Trade Agreement between the United States and China

Which of the following is an example of a multilateral trade agreement?

North American Free Trade Agreement (NAFTA)
European Union (EU)
World Trade Organization (WTO)
Association of Southeast Asian Nations (ASEAN)

The purpose of the General Agreement on Tariffs and Trade (GATT) was to:

Reduce tariffs and other trade barriers
Promote free trade
Regulate international trade
All of the above

Which of the following is NOT a function of the World Trade Organization (WTO)?

Administering trade agreements
Resolving trade disputes
Promoting free trade
Setting tariffs

The Doha Round of trade negotiations was launched in:

2001
2005
2010
2015

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