Chapter 10: Laws Governing Access to Foreign Markets

Aeroflop's sale is prohibited because the Agreement on Government Procurement prohibits offsets.

Aeroflop, a U.S. firm, wants to sell several million dollars-worth of airplanes to a government-owned airline in a European country famous for cheese. In order to get the contract, Aeroflop agrees to pay a 5% kickback to another U.S. company if that company agrees to buy all of its cheese from a seller in that European country.

transparency

The establishment and giving notice of new technical standards for products well in advance to permit foreign manufacturer and importer response is referred to as:

service industries

The majority of the gross domestic product in the U.S. is produced by:

principle of least-restrictive trade

The principle that limits restrictions on trade to the lowest level possible to achieve the goals for which they are imposed is:

Most countries impose strict restrictions on both raw and processed food products.

Which of the following statements is true regarding trade in agriculture?

ISO 9000 refers to:

standards used for assuring product quality through product design and manufacturing process.

technical regulation

A law or regulation affecting a product's characteristics that must be met before a product can enter a country is a:

Codex Alimentarius

Countries must rely on internationally accepted standards or recommendations for the protection of their plants, animals, and foodstuffs. The most notable are found in the _____.

Trade-Related Investment Measures (TRIMs)

Restrictions a nation places on foreign investment that adversely affect trade in goods or services are called:

Regarding Thailand's importation of cigarettes:

Thailand's licensing system for cigarettes was not justified.