What Is One Provision of the Uruguay Round Agreement

question 33

Multiple Choice

What is one provision of the Uruguay Round Agreement?

• A) A wide range of services were to be excluded from GATT fair trade and market access rules.
• B) Tariffs on industrial goods were to be raised by more than one-third, and tariffs were to be scrapped on more than 50 percent on a wide range of services.
• C) The International Monetary Fund (IMF) was to be created to implement the GATT agreement.
• D) Barriers on trade in textiles were to be significantly reduced over 10 years.
• E) Average tariff rates imposed by developed nations on manufactured goods were to be raised by 20 percent of the value, the highest level in modern history.

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Definitions:

Odors

Volatile substances that are perceived by the olfactory system, leading to the sense of smell.

Proximate Cause

The immediate, primary reason for an event or condition, often discussed in legal and biological contexts.

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The duration of daylight hours in a 24-hour period, which varies depending on the season and geographical location.

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The movement of groups of animals from one location to another, often seasonally, in response to changing environmental conditions.