11. Which organization is responsible for settling disputes related to international trade?
a) World Bank
b) International Monetary Fund (IMF)
c) World Trade Organization (WTO)
d) United Nations (UN)
12. Which of the following is an example of a trade promotion measure?
a) Imposing trade barriers
b) Adopting protectionist policies
c) Providing export subsidies
d) Implementing import quotas
13. The term “trade deficit” refers to a situation where:
a) Exports exceed imports
b) Imports exceed exports
c) The balance of trade is zero
d) The balance of payments is positive
14. Which of the following is not a function of the WTO?
a) Facilitating trade negotiations
b) Administering trade agreements
c) Enforcing trade rules
d) Promoting cultural exchange
15. Which of the following is a key principle of the General Agreement on Tariffs and Trade (GATT)?
a) Most-favored-nation treatment
b) Bilateral trade agreements
c) Regional trade blocs
d) Export-oriented industrialization
