The World Trade Organization replaced the __________ in 1995
A) UN Conference on Trade and Development (UNCTAD)
B) International Trade Organization (ITO)
C) Global Trade Organization (GTO)
D) General Agreement on Tariffs and Trade (GATT)
Answer: D
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NAFTA is a multilateral trade agreement
Indicate whether this statement is true or false.
Decentralizing power involves concentrating power in the national government
Indicate whether this statement is true or false.
Americans expect that their bureaucrats will enforce laws according to the principle of ______.
a. agency capture b. red tape c. patronage d. neutral competence e. bureaucratic discretion
When a state gives another state most-favored-nation status, what does it entail?
a. A state only conducts trade with the states it has given most-favored-nation status. b. A state applies its lowest tariff level to all states it has given most-favored-nation status. c. A state only accepts currency from the states it has given most-favored-nation status. d. A state has identified states with most-favored-nation status as strategically important.