The General Agreement on Tariffs and Trade Is an International

question 183

Multiple Choice

The General Agreement on Tariffs and Trade is an international agreement

• A) to establish the North American continent as a free trade area.
• B) to encourage peaceful settlements of trade disputes, but has no particular point of view about the desirability of higher or lower tariffs.
• C) to encourage world trade by lowering tariffs and other trade barriers.
• D) to make all tariffs illegal.

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Definitions:

Compounded Monthly

Interest on an investment or loan calculated and added to the principal amount on a monthly basis.

Future Payments

Payments that are scheduled to occur at future dates as part of a financial agreement or plan.

Debtor

A person or entity that owes money to another, typically as the result of a loan or other financial agreement.

Compounded Quarterly

The process by which interest is calculated and added to the principal sum of a loan or deposit four times a year.