During the Uruguay Round,_____ Replaced the General Agreement on Tariffs

question 32

Multiple Choice

During the Uruguay Round,_____ replaced the General Agreement on Tariffs and Trade (GATT) .

• A)​the European Union (EU)
• B)the World Trade Organization (WTO)
• C)the North American Free Trade Agreement (NAFTA)
• D)​the International Monetary Fund (IMF) 

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Definitions:

Modified

Changed or altered from its original form or condition.

Without Reserve

In an auction context, it refers to the selling of items without any minimum bid requirement, allowing the sale to the highest bidder regardless of the bid amount.

Auctioneer

A person authorized to conduct auctions, responsible for accepting bids and declaring goods sold.

Statute Of Frauds

A legal concept that requires certain types of contracts to be executed in writing and signed by the party to be charged, to prevent fraud and perjuries.