The General Agreement on Tariffs and Trade and the World

question 19

Multiple Choice

The General Agreement on Tariffs and Trade and the World Trade Organization have resulted in

• A) termination of export subsidies applied to manufactured goods.
• B) termination of import tariffs applied to manufactures.
• C) termination of import tariffs applied to agricultural commodities.
• D) termination of international theft of copyrights.
• E) a number of rounds of multilateral trade agreements.

Understand the reasons behind the purchase of insurance and its relation to risk aversion.

Identify the scenarios where individuals might make decisions that are not economically optimal due to irrational behaviors or misperceptions.

Understand the developmental stages of children's cognition and memory.

Identify the appearance-reality distinction and its onset in childhood development.

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Definitions:

Cognitive Dissonance Theory

A psychological theory that explains the discomfort that arises from holding two conflicting beliefs, leading to changes in attitudes, beliefs, or behaviors.

Role-Playing Theory

A theory suggesting that much of behavior is influenced by society's expectations and that individuals perform roles they have learned based on social norms and expectations.

Attribution Theory

A concept in social psychology that explains how individuals infer the causes of their own and others' behavior, distinguishing between internal dispositions and external situations.

Attitude Theory

A psychological theory focused on how individuals form, organize, and change their attitudes towards objects, people, and situations, based on cognitive, affective, and behavioral components.