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Author Question: The WTO requires its members to operate under various rules. Which of the following are included in ... (Read 43 times)

silviawilliams41

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Question 1

Which of the following is NOT a problem with protection?
◦ It may be an inferior solution to problems of free trade.
◦ It reduces the amount supplied by domestic producers.
◦ It risks retaliation from other countries.
◦ It leads to smaller world output.

Question 2

The WTO requires its members to operate under various rules. Which of the following are included in these rules?
◦ Any nation benefiting from a tariff reduction by another country must reciprocate by making similar tariff reductions itself.
◦ Any trade concession that a country makes to one member must be granted to all signatories.
◦ WTO-sanctioned retaliatory action is permitted in response to unfair barriers to trade.
◦ All the above


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Marked as best answer by silviawilliams41 on May 25, 2020

yifu223

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silviawilliams41

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)


amandanbreshears

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Reply 3 on: Yesterday
Wow, this really help

 

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