The Establishment of GATT Resulted in

question 11

Multiple Choice

The establishment of GATT resulted in

• A)lower tariff rates
• B)increased tariff rates
• C)decreases in total world trade
• D)increased protectionism
• E)a rise in the price of imports

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Definitions:

Digital Goods

Intangible products that exist in digital form, including software, digital images, music, and eBooks.

Virtual Goods

Non-tangible items that exist in digital form, often used within online communities, games, or virtual economies.

Personal Property

All types of property except land and the buildings on it, including movable items and intangible assets.

Real Property

Land and anything permanently affixed to it, such as buildings and trees, considered a form of real estate.