The WTO opposes quotas. Why did the WTO not stop the U.S.-Japanese quota during the 1980s?
A) There was a loophole in the GATT (at the time) that did not restrict nations from "voluntarily" curtailing their own exports.
B) Quotas are permitted under the GATT and WTO-as long as they are implemented for an approved reason.
C) The political situation at the time was tense; the GATT did not want to take on the powerhouses of the United States and Japan over such a small issue.
D) The WTO operates by consensus; all parties wanted the quotas.
Correct Answer:
Verified
Q72: In order to avoid congressional action in
Q73: Which of the following forms of protection
Q74: What will happen to profits and domestic
Q75: Under the VER of the 1980s, U.S.
Q76: (Figure: Supply and Demand at Home) In
Q78: A case study of Japanese auto imports
Q79: When the monopoly firm is able to
Q80: If a foreign country imposes a voluntary
Q81: Suppose that a foreign monopolist supplies the
Q82: When a firm sells products at lower
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents