The GATT Escape Clause

question 6

Multiple Choice

The GATT escape clause:

• A) allows a country to take temporary corrective action to protect a domestic industry.
• B) allows members who no longer wish to be a part of the WTO to quit.
• C) allows a country to impose tariffs on countries that are engaging in dumping.
• D) allows a country to disaffirm any previous tariffs they have imposed on another GATT member.

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Definitions:

Loose Labor Market

A situation in the job market where the supply of workers exceeds the demand for labor, often leading to higher unemployment rates and lower wages.

Economic Strike

A work stoppage by employees to pressure their employer to meet their demands regarding wages, benefits, and working conditions.

Conditions of Employment

The terms, circumstances, and environment under which an employee works, including hours, salary, benefits, and workplace policies.

Cooling Off Period

A mandatory time frame designed to prevent immediate industrial action after a union vote, giving negotiations a chance to resume without disruption.