US Department of Commerce Trade Agreements MCQs

AdminApril 10, 2022

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Trade agreements negotiated by the US Department of Commerce primarily aim to:
a) Isolate the country from global markets
b) Encourage protectionist policies
c) Facilitate international trade and economic cooperation
d) Limit domestic production
Answer: c) Facilitate international trade and economic cooperation

The North American Free Trade Agreement (NAFTA) involved trade between which countries?
a) United States, Japan, and South Korea
b) United States, Canada, and Mexico
c) United States, European Union, and China
d) United States, Brazil, and Argentina
Answer: b) United States, Canada, and Mexico

The United States-Mexico-Canada Agreement (USMCA) replaced which previous trade agreement?
a) World Trade Organization (WTO) agreement
b) Trans-Pacific Partnership (TPP)
c) North American Free Trade Agreement (NAFTA)
d) European Union Customs Union (EUCU) agreement
Answer: c) North American Free Trade Agreement (NAFTA)

The Trans-Pacific Partnership (TPP) aimed to create a trade bloc among countries primarily located in which region?
a) North America
b) Europe
c) Asia-Pacific
d) South America
Answer: c) Asia-Pacific

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) includes countries that:
a) Have no trade relations with the United States
b) Were part of the original TPP agreement
c) Are exclusively from South America
d) Are members of the European Union
Answer: b) Were part of the original TPP agreement

The United States-Korea Free Trade Agreement (KORUS) primarily focuses on trade between the United States and:
a) China
b) Japan
c) South Korea
d) India
Answer: c) South Korea

The US-Singapore Free Trade Agreement (USSFTA) aims to promote trade and investment between the United States and:
a) Russia
b) Singapore
c) Australia
d) Brazil
Answer: b) Singapore

Which trade agreement aims to foster economic integration among countries in the Western Hemisphere?
a) Transatlantic Trade and Investment Partnership (TTIP)
b) Pacific Alliance
c) Central America Free Trade Agreement (CAFTA-DR)
d) South Asia Free Trade Agreement (SAFTA)
Answer: c) Central America Free Trade Agreement (CAFTA-DR)

The African Growth and Opportunity Act (AGOA) is a trade preference program that provides eligible African countries with:
a) Military aid
b) Financial subsidies
c) Duty-free access to the US market
d) Technological assistance
Answer: c) Duty-free access to the US market

The United States-European Union trade relationship is governed by:
a) North American Free Trade Agreement (NAFTA)
b) Trans-Pacific Partnership (TPP)
c) World Trade Organization (WTO) rules
d) Transatlantic Trade and Investment Partnership (TTIP)
Answer: d) Transatlantic Trade and Investment Partnership (TTIP)

The Central America Free Trade Agreement-Dominican Republic (CAFTA-DR) includes trade relations with countries from:
a) Europe
b) Asia
c) South America
d) Central America and the Dominican Republic
Answer: d) Central America and the Dominican Republic

The United States-Japan Trade Agreement aims to address trade issues between the United States and:
a) Mexico
b) China
c) Japan
d) Canada
Answer: c) Japan

The United States-United Kingdom Trade and Investment Working Group was established to:
a) Restrict trade between the two countries
b) Facilitate negotiations for a comprehensive trade agreement
c) Regulate intellectual property rights
d) Impose tariffs on certain goods
Answer: b) Facilitate negotiations for a comprehensive trade agreement

The United States has trade agreements with countries in various regions, including Latin America, Asia, and:
a) Africa
b) Europe
c) Australia
d) Antarctica
Answer: b) Europe

Trade agreements negotiated by the US Department of Commerce aim to:
a) Isolate the country from global markets
b) Encourage protectionist policies
c) Facilitate international trade and economic cooperation
d) Limit domestic production
Answer: c) Facilitate international trade and economic cooperation