How Many Nations Signed on for Negotiation When GATT Was

question 20

Multiple Choice

How many nations signed on for negotiation when GATT was created in 1947?

• A) 15
• B) 23
• C) 28
• D) 40
• E) 57

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Definitions:

Interest Rate

The cost of borrowing money or the return on savings, often expressed as a percentage of the principal.

Spending Multiplier

An economic concept indicating the ratio of change in aggregate income to an initial change in spending, illustrating how initial spending leads to increased total spending.

Aggregate Demand Curve

A graph demonstrating the amount of products and services desired by households, companies, the government, and foreign buyers at various price points.

Expansionary Monetary Policy

A policy by central banks to increase the money supply and lower interest rates, aiming to boost economic activity and reduce unemployment.