Economics MCQs 32

The non-discrimination principle means treating one’s trading partners equally. It guarantees equal opportunities for suppliers from all World Trade Organization members. It is called:
(a) Most-Favoured Nation (MFN)-✔️
(b) South Asian Free Trade Area (SAFTA)
(c) General Agreement on Tariffs and Trade (GATT)
(d) None of the above

The World Trade Organization (WTO) is the only international body dealing with the rules of trade between nations. The World Trade Organization began life on 1st of
(a) January 1993
(b) January 1994
(c) January 1995-✔️
(d) January 1996

The main objectives of the World Trade Organization are
(a) To help trade flow as freely as possible.
(b) To serve as a form for trade negotiations
(c) To settle dispute between conflicting trade interests
(d) All of the above-✔️

The General Agreement on Tariffs and Trade (GATT) is the predecessor of World Trade Organization. It entered into force in.
(a) January 1946
(b) January 1947
(c) January 1948-✔️
(d) January 1949

In 1947 how many states did take part in the General Agreement on Tariffs and Trade trade round in Geneva?
(a) 13
(b) 23-✔️
(c) 33
(d) 43

The first director general of General Agreement on Tariffs and Trade from 1948-✔️68 was
(a) Sir Eric Wyndham White (UK)-✔️
(b) Mike Moore (New Zealand)
(c) Don McKinon (New Zealand)
(d) Kofi Annan (Ghana)

In 1999, who became the third director general of World Trade Organization?
(a) Olivier Long (Switzerland)
(b) Renato Ruggiero (Italy)
(c) Peter Sutherland (Ireland)
(d) Mike Moore (New Zealand)-✔️

The General Agreement on Tariffs and Trade trade rounds concentrated on reducing tariffs. Which round was the first major attempt to tackle trade barriers and to improve the system? This eighth round is called:
(a) Kennedy Round
(b) Tokyo Round
(c) Uruguay Round-✔️
(d) All of the above


Which trade round was the latest and most extensive of all and it finally led to the World Trade Organization and a new set of agreements. It lasted from 1986 to 1994.
(a) Kennedy Round
(b) Tokyo Round
(c) Doha Round
(d) Uruguay Round-✔️

The 1986-1994 Uruguay Round achieved agrement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) . Which of the following are the types of intellectual property?
(a) Copyrights and related rights
(b) Trademarks including service marks
(c) Industrial design, patents, layout designs etc
(d) All of the above-✔️