Examlex
At the full-employment GDP,the total value of goods demanded always equals the total value of goods supplied.
Binding Decisions
Rulings or agreements that are legally enforceable and must be followed by the parties involved, often used in the context of legal and contractual arrangements.
Member Nations
Countries that are part of an international organization or agreement and agree to abide by its terms.
GATT
Stands for the General Agreement on Tariffs and Trade, which was a multilateral agreement aiming to reduce tariffs and other trade barriers internationally until it was replaced by the WTO.
Worldwide Tariffs
Taxes imposed by countries on imported goods in order to protect domestic industries or to generate revenue.
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