21. The “most-favored-nation” clause in trade agreements ensures that:
a) All countries receive equal treatment in trade
b) Some countries receive preferential treatment
c) Trade barriers are eliminated for certain countries
d) Developed countries dominate international trade
22. Which of the following is an example of a trade-related intellectual property right?
a) Copyright
b) Sales tax
c) Labor standards
d) Import quota
23. The terms of trade refer to the:
a) Ratio of a country’s imports to its exports
b) Ratio of a country’s trade deficit to its GDP
c) Ratio of export prices to import prices
d) Ratio of trade barriers to free trade agreements
24. Which of the following is an example of a trade promotion organization?
a) International Monetary Fund (IMF)
b) World Bank
c) United Nations Conference on Trade and Development (UNCTAD)
d) Organization for Economic Cooperation and Development (OECD)
25. A preferential trade agreement involves:
a) Eliminating all trade barriers between member countries
b) Granting special trade privileges to certain countries
c) Imposing import quotas on selected products
d) Establishing a common currency for member countries
