1.Which of the following is not one of the main instruments of trade policy?
b.Administrative policiesc.Local content requirementsd.Tariffs2.After the Uruguay Round of GATT extended global trading rules to cover trade inservices, the first two industries targeted for reform by the WTO were
Telecommunications and financial services
Automotives and aerospace
Textiles and technology
Agriculture and consulting services3.Identify the incorrect statement pertaining to trade barriers.a.They raise the costs of exporting products to a countryb.To conform to local content regulations, a firm may have to locate moreproduction activities in a given market than it would otherwisec.They may put a firm at a competitive advantage to indigenous competitors
d.They may limit a firm's ability to serve a country from locations outsideof that country
4.In the 1986 Uruguay Round, GATT members sought to write rules for promotingall of the following excepta.Agricultural subsidiesb.GATT's monitoring and enforcement mechanisms