To Help Developing Countries Expand Their Industrial Base,some Industrial Countries

question 37

Multiple Choice

To help developing countries expand their industrial base,some industrial countries have reduced tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries.This policy is called

• A) export-led growth.
• B) generalized system of preferences.
• C) Most Favored Nation.
• D) reciprocal trade agreement.
• E) outsourcing.

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Definitions:

Sherman Act

An 1890 United States antitrust law that outlaws monopolistic practices and promotes competition.

Price-fixing

An illegal agreement among competitors to set prices at a certain level, rather than competing naturally in the market.

Tying Contracts

Agreements where the sale of one product (the tying product) is conditioned on the buyer purchasing another product (the tied product).

Antitrust Laws

Legislation aimed at preventing anti-competitive practices, monopolies, and to promote fair competition for the benefit of consumers.