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which of the following organizations came directly from the gatt? ○ gro…

Question

which of the following organizations came directly from the gatt?
○ group of seven
○ league of nations
○ opec
○ world trade organization

question 2 (multiple choice worth 5 points)
(08 06 mc)
what do the usmca and the european union have in common?
○ they both promote english as the language of international trade
○ they are both moving toward a political union of their members
○ their member nations reduce tariffs to trade with each other.
○ they have both decreased in size in recent years.

question 3 (multiple choice worth 5 points)
(08 06 mc)
which group in a country is most directly threatened by the international competition of free trade?
○ domestic suppliers or businesses
○ domestic consumers
○ local governments
○ federal governments

Explanation:

Response
Question 1
Brief Explanations
  • Group of Seven (G7) is about major economies' cooperation, not from GATT.
  • League of Nations was a pre - WWII international organization, unrelated to GATT.
  • OPEC is an oil - producing countries' organization, not from GATT.
  • GATT (General Agreement on Tariffs and Trade) led to the creation of the World Trade Organization (WTO).
Brief Explanations
  • The European Union has multiple official languages, and USMCA (United States - Mexico - Canada Agreement) doesn't focus on promoting English as the trade language.
  • USMCA is a trade agreement, not moving towards a political union like the EU's development, but the EU is more than just a trade union.
  • USMCA (a free - trade agreement) and the EU (a regional integration bloc with free - trade elements) both have member nations that reduce tariffs for intra - group trade.
  • The EU has expanded in the past, and USMCA is a new agreement, not decreasing in size.
Brief Explanations
  • Domestic suppliers or businesses face competition from foreign goods in free trade, as foreign products may be cheaper or of better quality, threatening their market share.
  • Domestic consumers benefit from free trade as they get more choices and potentially lower prices.
  • Local governments are not directly threatened by international competition in the same way as businesses; they deal with local governance issues.
  • Federal governments regulate trade and may adjust policies, but are not directly threatened by international competition like domestic businesses.

Answer:

D. World Trade Organization

Question 2