In 1932, U.S. manufacturers, which used to enjoy steady relationships with their foreign distributors and export nearly 60% of their output, realized that their exports had fallen to only 20% of total output. Which of the following is the most likely reason for this decrease in exports? O The low quality of U.S. products O war between the United States and Canada O Retaliatory tariffs by trading partners

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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In 1932, U.S. manufacturers, which used to enjoy steady relationships with their foreign distributors and export nearly 60% of their output, realized
that their exports had fallen to only 20% of total output. Which of the following is the most likely reason for this decrease in exports?
O The low quality of U.S. products
O war between the United States and Canada
O Retaliatory tariffs by trading partners
The signing of the General Agreement on Tariffs and Trade (GATT) in 1947 resulted in the adoption of several new trade policies.
In the following table, indicate if each of the policies listed was a result of GATT. Then, complete the last column by identifying the means by which
each GATT policy was implemented.
Policy
GATT Policy
Implementation
Promotion of protectionism
Clear and public trade rules
Promotion of lower trade barriers
Yes v
Institution of the WTO
Promotion of trade transparency
Settling trade disputes
In the 1960s, multilateral negotiations called the Uruguay Round
resulted in
higher subsidies to manufacturers
v and caused
a decrease
▼ in U.S. exports.
Transcribed Image Text:In 1932, U.S. manufacturers, which used to enjoy steady relationships with their foreign distributors and export nearly 60% of their output, realized that their exports had fallen to only 20% of total output. Which of the following is the most likely reason for this decrease in exports? O The low quality of U.S. products O war between the United States and Canada O Retaliatory tariffs by trading partners The signing of the General Agreement on Tariffs and Trade (GATT) in 1947 resulted in the adoption of several new trade policies. In the following table, indicate if each of the policies listed was a result of GATT. Then, complete the last column by identifying the means by which each GATT policy was implemented. Policy GATT Policy Implementation Promotion of protectionism Clear and public trade rules Promotion of lower trade barriers Yes v Institution of the WTO Promotion of trade transparency Settling trade disputes In the 1960s, multilateral negotiations called the Uruguay Round resulted in higher subsidies to manufacturers v and caused a decrease ▼ in U.S. exports.
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