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The Omnibus Trade and Competitiveness Act of 1988 focuses on assisting businesses to be more competitive in world markets as well as on correcting perceived injustice in trade practices. True False

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Which of the following acronyms refers to the international forum that was created for member countries to engage in the negotiation of tariffs and other barriers to trade? A. UNHCRB. GATTC. WMOD. NPTE. UNDP

Which were the two major challenges faced by U.S. multinational corporations at the close of the 1960s? A. The creation of the Soviet Union and the higher tariffs on importsB. Growing jingoistic nationalism and a negative population growth rate in major international marketsC. Resistance to direct investment and increasing competition in export marketsD. Increasing Chinese domination in the manufacturing sector and the falling dollar in global marketsE. The decreased demand for U.S. goods in the global market and the growing influence of consumer rights advocacy in the home market

Which of the following presents the correct picture of the outcome of increased world trade after the 1950s, contrary to Servan-Schreiber's prediction? A. Third World countries have been excluded from this economic growth leading to stark imbalances in wealth.B. The European Union has become the center of world trade, taking the position away from the United States.C. The United States has continuously maintained the positive balance of trade it attained during the 1950s.D. Economic power and potential has become more evenly distributed among the countries of the world.E. SDRs and gold have lost their utility as the basic medium of financial exchange and most monetary statistics have started relating to the U.S. dollar.

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