Legislation Refers To

question 9

Multiple Choice

Legislation refers to:

• A) Common law interpretation
• B) Risk management as a statutory requirement
• C) Laws established by local councils
• D) Laws made by parliament, referred to singly as an Act

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Definitions:

Normal Trade Relations

A GATT principle of trade law which requires that WTO member states treat like goods coming from other member states on an equal basis.

GATT

General Agreement on Tariffs and Trade, a multilateral treaty aimed at reducing global barriers to trade and promoting international commerce.

WTO

The World Trade Organization, an international body that deals with the rules of trade between nations.

NAFTA

The North American Free Trade Agreement, a treaty between the United States, Mexico, and Canada that eliminated most tariffs and trade barriers between the countries.