The Purpose of the General Agreement on Tariffs and Trade

question 10

True/False

The purpose of the General Agreement on Tariffs and Trade is to reduce trade barriers.

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Definitions:

Term

In finance, refers to the length of time until a financial contract expires. In other contexts, it can mean a specific period or duration.

Secondary Capital Market

The financial market where investors buy and sell securities they already own, as opposed to the primary market where securities are issued for the first time.

10-Year Bond

A long-term debt security issued by governments or corporations with a maturity of ten years.

Transaction

The act of conducting a trade or business deal involving the exchange of goods, services, or financial assets.