Which of the Following Is True of the Uruguay Round

question 71

Multiple Choice

Which of the following is true of the Uruguay Round of the WTO?

• A) It promoted short-term global trade growth.
• B) It increased the world's merchandise tariffs by 50 percent.
• C) It reduced the influence of the WTO in agriculture.
• D) It toughened the international protection of intellectual property.
• E) It consisted of discussions that lasted for two years.

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Definitions:

Voidable Title

A title to goods that is valid until annulled or rescinded due to certain conditions, such as fraud or misrepresentation.

Good-faith Purchaser

indicates a person who buys property without knowledge of any circumstances which would make the purchase dishonest or unfair.

Void Title

A title to property or an asset that is invalid from the start and has no legal effect.

Merchant

an individual or business that is involved in the trading of goods, services, or commodities for profit.