The Final Round of GATT Talks, Called the Uruguay Round

question 59

Multiple Choice

The final round of GATT talks, called the Uruguay Round, established GATT's successor, known as the

• A)European Union (EU).
• B)North American Free Trade Agreement (NAFTA).
• C)Second General Agreement on Trade and Tariffs (GATT 2).
• D)United Nations Council for Free and Fair Trade (UNCFFT).
• E)World Trade Organization (WTO).

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Definitions:

Robust Estimator

An estimate method that is not overly sensitive to outliers or violations of assumptions by the underlying data-generating process.

Normality

In statistics, a condition in which a distribution approximates the normal distribution, characterized by a bell-shaped curve.

Consistent

In statistics, a property of an estimator indicating that as the sample size increases, it converges in probability to the true parameter value.

T Distribution

A statistical distribution type that emerges when calculating the average of a population with a normal distribution, under conditions where there are few samples and the population's standard deviation is not known.