What is the primary purpose of the World Trade Organization?Set tariffs for countries that signed the GATT agreements
A. Monitor the implementation of trade agreements such as NAFTA
B. Arbitrate trade disputes
C. Act as a "watchdog" for countries that lower their pollution standards in an effort to attract more foreign manufacturing activity
D. Set tariffs for countries that signed the GATT agreements
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The global economy is moving towards a world in which national economies are merging into an interdependent global economic system, commonly referred to as globalization.
A. TRUE
B. FALSE
Because of the global presence of widely accepted products like Citicorp credit cards, Coca-Cola, and McDonalds, national markets are all but disappearing.
A. TRUE
B. FALSE
The most global markets are the markets for consumer products.
A. TRUE
B. FALSE
Although many companies have lowered their overall cost structure and have improved the quality of their products by dispersing their production activities to locations around the world, this activity is confined primarily to large firms.
A. TRUE
B. FALSE