1. According to the ASEAN trade agreement, Malaysia was supposed to eliminate nearly all tariff barriers protecting its car market by 2008. With this act, the Malaysian government would:
a. stop using nontax methods to increase the volume of imported goods
b. eliminate most protectionism
c. reduce the tax it gathers on imported cars
d. nationalize the car industry
e. limit the number of cars that can be exported
2. After years of flooding international markets with surplus milk products, the European Union, under heavy pressure from member nations, has curtailed its $59 billion annual subsidy system for its dairies. This curtailment of subsidies means:
a. an end to tariff barriers
b. European dairy farmers will no longer be protected from international competition
c. dairy products will be given a new customs classification
d. government import standards on dairy product will end
e. an end to voluntary export restraints