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FSOT: 500 Test Prep Study Questions

Category - Economics

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Under the Generalized System of Preferences of the U.S., the U.S. establishes an exception to the Most Favored Nation principle of international trade law by giving special access to the U.S. market to:
  1. countries with which the U.S. has signed bilateral trade agreements
  2. developing countries for certain categories of products
  3. countries in the Western Hemisphere that respect human rights
  4. a list of countries that produce low-cost textiles and apparel
Explanation
Answer: B - Developing countries for certain categories of products.
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