The Two Most Important Institutions That Monitor International Trade Policies

question 41

Multiple Choice

The two most important institutions that monitor international trade policies are _____.

• A)NAFTA (North American Free Trade Association)and the World Bank
• B)the World Bank and the EU (European Union)
• C)GATT (General Agreement on Tariffs and Trade)and WTO (World Trade Organization)
• D)WTO (World Trade Organization)and NAFTA (North American Free Trade Association)

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Definitions:

Indemnification

Payment for loss or damage suffered.

Fiduciary Relationship

A relationship based on trust such as exists between an attorney and a client, an agent and a principal, a guardian and a ward, a trustee and a beneficiary, or a director and a corporation.

Principal

A person who authorizes an agent to act on her or his behalf and subject to her or his control.

Independent Contractor

An individual who provides goods or services to another entity under terms specified in a contract or within a freelance arrangement, not as an employee.