As a Result of GATT,tariff Rates in Developed Countries Have

question 26

True/False

As a result of GATT,tariff rates in developed countries have decreased from 40 percent in 1948 to less than 4 percent today.

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Definitions:

Monroe Doctrine

A cornerstone of U.S. foreign policy introduced by President James Monroe in 1823, declaring opposition to European colonization in the Americas and stating that any intervention by external powers in the politics of the Americas would be seen as a hostile act against the U.S.

Latin American Nations

Countries in the Western Hemisphere south of the United States, where Romance languages (primarily Spanish and Portuguese) are spoken, known for their rich cultural diversity and historical significance.

Political Affairs

Refers to activities related to the governance of a country or area, including policies, regulations, and political actions.

Financial Affairs

Matters related to money management, including investments, budgeting, banking, and the handling of financial assets and liabilities.