International Trade Theory and Policy
by Steven M. Suranovic

Trade 20

Trade 20

Trade Problem Set 20 1-2

1.  Match each of the following five terms with a description of its application within the WTO.  Place the letter of the appropriate statement next to each term.  




Average Tariff ______________



A.        Type of analysis where the effects of policy actions are examined only in the markets which are directly affected  and in which supply and demand curves are used.



Partial Equilibrium ________



B.        This results when one divides total tariff revenue by the value of imports.



National treatment   _______



C.        A trade law that provides protection against unfair pricing by foreign firms.




Anti-Dumping   __________



D.        Requires that a product made in one WTO member country be treated no less favorably than a similar good originating in another member country.



Most Favored Nation _______



E.         Requirement that foreign goods, once they have entered a WTO country, be treated no less favorably than domestically produced goods. 

International Trade Theory and Policy - Chapter 20: Last Updated on 6/14/06