What Does the Most Favored Nation Principle Mean

question 70

Multiple Choice

What does the most favored nation principle mean?

• A)That one nation is selected to benefit the most from free trade
• B)That if a state lowers a tariff toward one General Agreement on Tariffs and Trade (GATT)member, it is obliged to give all members the same low tariff
• C)That regional trading partners are given favorable trading terms
• D)That the GATT ensures that one country receives preferential trade treatment

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Definitions:

Insurance Application

An insurance application is a document or digital form submitted by an individual seeking to obtain an insurance policy, detailing personal information and risks for insurer evaluation.

Insurance Types

Various classifications of insurance policies including but not limited to health, life, auto, and property insurance, each designed to cover specific risks and financial losses.

Insured Party

An individual or entity that is covered under an insurance policy, protected financially from specified losses or damages.

Commercial General Liability

Insurance covering a business for bodily injury, personal injury, and property damage caused by the business’s operations, products, or injuries that occur on the business premises.