The Average Level of Tariffs in Developing Countries, Which Is

question 21

Multiple Choice

The average level of tariffs in developing countries, which is __________ the average Level of tariffs in the developed countries, __________ after the conclusion of the Uruguay Round of trade negotiations.

• A) lower than; did not change
• B) lower than; fell
• C) higher than; did not change
• D) higher than; fell

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Definitions:

Cash Receipts

The total amount of cash received by a business during a specified period.

Cash Flows

The net amount of cash and cash-equivalents being transferred into and out of a business, used to evaluate its financial health.

Operating Activities

Activities that are part of a company's primary business operations, such as selling goods and services.

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenue.