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What is the significance of the Most-Favoured Nation rule in WTO agreements?- a)It allows countries to discriminate in favor of specific trading partners.
- b)It requires countries to treat all WTO members equally in trade matters.
- c)It allows countries to charge higher tariffs on certain products.
- d)It requires countries to lower their tariffs for specific trading partners.
Correct answer is option 'B'. Can you explain this answer?
a)
It allows countries to discriminate in favor of specific trading partners.
b)
It requires countries to treat all WTO members equally in trade matters.
c)
It allows countries to charge higher tariffs on certain products.
d)
It requires countries to lower their tariffs for specific trading partners.
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Dev Patel answered |
The Most-Favoured Nation (MFN) rule in WTO agreements requires countries to treat all WTO members equally in trade matters. This means that any favorable treatment given to one member must be extended to all members, promoting non-discrimination in trade.
Which organization focuses on providing low-interest loans and grants to combat poverty in developing countries?- a)World Trade Organisation (WTO)
- b)International Monetary Fund (IMF)
- c)United Nations Conference on Trade and Development (UNCTAD)
- d)World Bank
Correct answer is option 'D'. Can you explain this answer?
a)
World Trade Organisation (WTO)
b)
International Monetary Fund (IMF)
c)
United Nations Conference on Trade and Development (UNCTAD)
d)
World Bank
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Dev Patel answered |
The organization that focuses on providing low-interest loans and grants to combat poverty in developing countries is the World Bank.
What role does the IMF play in monitoring the global economy?- a)It provides financing for infrastructure projects in member countries.
- b)It conducts research and publishes reports on global economic conditions.
- c)It negotiates trade agreements between member countries.
- d)It supervises global environmental initiatives.
Correct answer is option 'B'. Can you explain this answer?
a)
It provides financing for infrastructure projects in member countries.
b)
It conducts research and publishes reports on global economic conditions.
c)
It negotiates trade agreements between member countries.
d)
It supervises global environmental initiatives.
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Dev Patel answered |
The IMF plays a role in monitoring the global economy by conducting research and publishing reports on global economic conditions. It produces reports such as the World Economic Outlook and the Global Financial Stability Report.
What is the main function of the Dispute Settlement Body (DSB) in the WTO?- a)To negotiate trade agreements.
- b)To provide technical assistance to member countries.
- c)To settle disputes between member countries regarding WTO rules.
- d)To set tariff rates for all member countries.
Correct answer is option 'C'. Can you explain this answer?
a)
To negotiate trade agreements.
b)
To provide technical assistance to member countries.
c)
To settle disputes between member countries regarding WTO rules.
d)
To set tariff rates for all member countries.
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Dev Patel answered |
The main function of the Dispute Settlement Body (DSB) in the WTO is to settle disputes between member countries regarding WTO rules. It serves as a mechanism for resolving trade-related disputes among WTO members.
What is the primary goal of the World Trade Organisation (WTO)?- a)To impose tariffs on imports and exports.
- b)To reduce barriers to international trade.
- c)To provide loans to developing countries.
- d)To regulate global financial markets.
Correct answer is option 'B'. Can you explain this answer?
a)
To impose tariffs on imports and exports.
b)
To reduce barriers to international trade.
c)
To provide loans to developing countries.
d)
To regulate global financial markets.
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Dev Patel answered |
The primary goal of the World Trade Organisation (WTO) is to reduce barriers to international trade. It aims to facilitate trade between countries by removing obstacles such as tariffs, licensing requirements, and subsidies.
How are voting shares allocated among IMF member countries?- a)Each member has an equal number of voting shares.
- b)Voting shares are based on the economic size of each member.
- c)The United States has the highest number of voting shares.
- d)Voting shares are determined by the number of loans a member has received.
Correct answer is option 'B'. Can you explain this answer?
a)
Each member has an equal number of voting shares.
b)
Voting shares are based on the economic size of each member.
c)
The United States has the highest number of voting shares.
d)
Voting shares are determined by the number of loans a member has received.
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Dev Patel answered |
Voting shares in the IMF are allocated based on the economic size of each member. Members with larger economies have a greater number of voting shares, reflecting their financial contributions to the organization.
What is the primary function of the World Bank?- a)To provide grants for education and healthcare projects in developing countries.
- b)To finance specific development projects in member countries.
- c)To regulate global financial markets.
- d)To facilitate international trade negotiations.
Correct answer is option 'B'. Can you explain this answer?
a)
To provide grants for education and healthcare projects in developing countries.
b)
To finance specific development projects in member countries.
c)
To regulate global financial markets.
d)
To facilitate international trade negotiations.
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Dev Patel answered |
The primary function of the World Bank is to finance specific development projects in member countries. It provides low-interest loans and credits for projects aimed at reducing poverty and improving infrastructure.
What is the main purpose of the United Nations Conference on Trade and Development (UNCTAD)?- a)To settle disputes related to international trade agreements.
- b)To provide low-interest loans for infrastructure projects in developing countries.
- c)To promote and accelerate economic growth in the developing world.
- d)To monitor global economic conditions and identify financial risks.
Correct answer is option 'C'. Can you explain this answer?
a)
To settle disputes related to international trade agreements.
b)
To provide low-interest loans for infrastructure projects in developing countries.
c)
To promote and accelerate economic growth in the developing world.
d)
To monitor global economic conditions and identify financial risks.
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Dev Patel answered |
The main purpose of the United Nations Conference on Trade and Development (UNCTAD) is to promote and accelerate economic growth in the developing world. UNCTAD focuses on reducing the trade gap between developed and developing countries while fostering economic development.
What is the significance of the Most-Favoured Nation (MFN) rule in international trade?- a)It allows countries to favor specific trading partners over others.
- b)It promotes equal treatment of all trading partners in terms of tariffs and trade regulations.
- c)It encourages countries to impose higher tariffs on imports from certain nations.
- d)It requires countries to give special privileges to their closest neighbors.
Correct answer is option 'B'. Can you explain this answer?
a)
It allows countries to favor specific trading partners over others.
b)
It promotes equal treatment of all trading partners in terms of tariffs and trade regulations.
c)
It encourages countries to impose higher tariffs on imports from certain nations.
d)
It requires countries to give special privileges to their closest neighbors.
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Dev Patel answered |
The Most-Favoured Nation (MFN) rule in international trade promotes equal treatment of all trading partners in terms of tariffs and trade regulations. It discourages favoritism and encourages non-discrimination in trade.
What is the main purpose of the International Monetary Fund (IMF)?- a)To provide low-interest loans for specific development projects in developing countries.
- b)To stabilize the global economy and provide financial assistance to countries facing balance of payments problems.
- c)To promote international trade agreements among member countries.
- d)To provide grants for poverty alleviation programs in developing nations.
Correct answer is option 'B'. Can you explain this answer?
a)
To provide low-interest loans for specific development projects in developing countries.
b)
To stabilize the global economy and provide financial assistance to countries facing balance of payments problems.
c)
To promote international trade agreements among member countries.
d)
To provide grants for poverty alleviation programs in developing nations.
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Dev Patel answered |
The main purpose of the International Monetary Fund (IMF) is to stabilize the global economy and provide financial assistance to countries facing balance of payments problems. It offers short-term loans and technical assistance to member countries to help prevent financial crises.
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