The Most Favored Nation Principle Means That

question 65

Multiple Choice

The most favored nation principle means that

• A) one nation is selected to benefit the most from free trade.
• B) 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) regional trading partners are given favorable trading terms.
• D) the GATT ensures that one country receives preferential trade treatment.

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Definitions:

Primary Aging

The gradual, inevitable process of physical decline that occurs throughout life, regardless of health practices.

Functional

Designed to be practical and useful, rather than solely attractive.

Secondary

Refers to the second level or stage in a series or a process, often used in education to describe schools for students aged approximately 11 to 18.

Life Expectancy

The average period that an individual is expected to live, often calculated from birth, based on a number of factors including historical data, current age, and health status.