Module A

Which institution of the EU is responsible for policy setting? A) the Council of the European Union B) the European Court of Justice C) the European Commission D) the European Parliament

A) the Council of the European Union

The Doha Round began in 2001 to work on what agenda? A) trade-related issues between developed and developing countries B) protecting the environment C) infrastructure in developing countries D) a way to work with the expanding European Union

A) trade-related issues between developed and developing countries

Does the IMF lend money? A) yes, but as a last resort B) no, that is left up to the World Bank C) yes, on a regular basis D) yes, with noconditions

A) yes, but as a last resort

The United Nations is a worldwide organization that is A) a critical member of the WTO. B) a forum for the promotion of peace and global stability. C) established to encourage economic equality among nations. D) a formal institution with strict regulations.

B) a forum for the promotion of peace and global stability.

The main difference between a free trade area and a customs union is that in a customs union, there is A) a shared border patrol. B) no need for passport controls. C) a common external tariff. D) shared currency.

C) a common external tariff.

The WTO has made progress on trade-related intellectual property rights (TRIPS). An example of this progress is A) a shared recognition that private property is a basic human right. B) an agreement that governments should hold all pharmaceutical trade secrets. C) an agreement that property rights should not take precedence over public health. D) an agreement that copyrights are inviolate.

C) an agreement that property rights should not take precedence over public health.

Which type of institution operates through laws and regulations, with coercion as the regulative mechanism? A) normative B) cognitive C) formal D) iInformal

C) formal

A manager from a U.S. company is negotiating with a Japanese company for goods. What is most likely to be the American's most important criterion in the purchasing decision? A) the relationship B) the follow-up C) price D) logistics

C) price

IMF quotas are determined by the relative size of a nation in the global economy and A) limit trade among IMF members. B) are currently based on the gold standard. C) are paid by the countries' largest corporations. D) are the nation's "dues" to the IMF.

D) are the nation's "dues" to the IMF.

The World Trade Organization is an example of an institution that "propagate(s) principles, and broadly represent(s) 'humanity.'" As such, the WTO is a(n) ________ institution. A) formal B) cultural C) cognitive D) normative

D) normative