When the WTO Met in Seattle to Initiate a Further

question 40

Multiple Choice

When the WTO met in Seattle to initiate a further move towards free international trade, thousands of activists met

• A) in order to promote the WTO's goals of "Trade-not Aid."
• B) in order to laud the WTO policy orientation which would bust local monopolies and therefore help ordinary relatively poor consumers everywhere.
• C) in order to laud the WTO policy of disallowing government sweetheart deals, which typically meant that corrupt governments subsidized their in-laws' conglomerates on the backs of poor taxpayers.
• D) in order to support the WTO efforts of bringing about a universal shift of resources in poor countries to higher efficiency and productivity uses, which would raise the real incomes of everyone.
• E) in order to protest WTO free trade policies that they believed hurt workers.

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Definitions:

Production

The method of merging different tangible and intangible inputs (like designs and expertise) to produce an item meant for consumption (known as the output).

Opportunity Cost

The cost of foregone alternatives when one option is chosen over another.

Coffee

A popular beverage made from roasted and ground beans of the Coffea plant, consumed worldwide for its stimulating effects.

Production Possibility Frontier

A diagram that maps out all possible highest outputs for two commodities, given a predetermined set of inputs and technology.