Judging by the Ongoing Changes in Tariff Rates in Major

question 15

Multiple Choice

Judging by the ongoing changes in tariff rates in major trading countries, the world has been experiencing a great

• A) trade liberalization.
• B) surge of protectionism.
• C) lack of progress in the trade-policy area.
• D) move towards regional integration.
• E) shift from export subsidies to specific tariffs.

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Definitions:

Supplier's Invoice

A document issued by a supplier listing the products or services provided, their quantities, and the agreed prices, to request payment from the buyer.

Purchase Order

The purchase order authorizes the purchase of the inventory from an approved vendor.

Ledger

A group of accounts for a business.

Postage Stamps

These are adhesive labels issued by postal authorities to prepay for the delivery of mail.