POS 486 Midterm Exam_ POS486 MIDTERM (Graded A) Latest 2021

POS 486 MIDTERM EXAM • Question 1 2.5 out of 2.5 points Which of the following is NOT a policy that trade liberalization would seek to eliminate? Selected Answer: 2. trade agreements Correct Answer: 2. trade agreements Response Feedback: Refer to Chapter 1, pp. 22-24, and Assignment 1 • Question 2 2.5 out of 2.5 points Which of the following does NOT describe the WTO? Selected Answer: 2. was drafted in Havana, Cuba in 1948 Correct Answer: 2. was drafted in Havana, Cuba in 1948 Response Feedback: The questions asks which is NOT correct. We know that a trade institution was discussed at Bretton Woods but not created. We also know that the WTO didn't come into creation until 1995, with the GATT guiding international trade from . We have also learned that it covers international trade for most countries globally, that it has a broad mandate, and that it expanded GATT. Therefore, the correct answer is 2. See Chapter 2/Lecture 2.