Delegates from different countries of the world met at Geneva in April 1947 which resulted in the formation of the first global trade agreement. Its main objective was:
a. to create multiple trade barriers in the member countries.
b. to enable the member countries to maintain their autarkic conditions.
c. to provide security to the domestic producers of the member countries by prohibiting international trade.
d. to create an atmosphere of economic rivalry in the international sphere.
e. to liberalize trade for mutual prosperity of the members.
e
You might also like to view...
Refer to Figure 19-5. The Chinese government pegs the yuan to the dollar, at one of the specified exchange rates on the graph, such that it overvalues its currency. Using the figure above, this would generate
A) a shortage of yuan equal to 500 million. B) a shortage of yuan equal to 100 million. C) a surplus of yuan equal to 700 million. D) a surplus of yuan equal to 200 million.
Declining real GDP for two quarters in a row is often called a recession
Indicate whether the statement is true or false
Money enables us to make comparisons of value among goods and services. This is the ________ use of money.
A. inflation fighting B. store of value C. standard of value D. medium of exchange
Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. What is the total damage imposed as a result of producing the market (unregulated) level of cars?
A. $250 B. $350 C. $500 D. $700