The World Trade Organization Was Created in the Eighth Round

question 54

Multiple Choice

The World Trade Organization was created in the eighth round of the GATT talks-called the ________________________ that lasted from 1986 to 1994.

• A)Brussels Round
• B)Paris Round
• C)Morocco Round
• D)Paraguay Round
• E)None of the above

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Definitions:

Equilibrium

A situation in the market where demand matches supply, resulting in steady prices.

Supply Curve

The supply curve is a graphical representation showing the relationship between the price of a good and the amount that suppliers are willing and able to sell in the market.

Decrease

A reduction in quantity, size, or intensity.

Future

The indefinite time period after the present, often considered in the context of possibilities or uncertainties.