Since 1994, Trade Rules Have Been Enforced by

question 37

Multiple Choice

Since 1994, trade rules have been enforced by

• A) the WTO.
• B) the G10.
• C) the GATT.
• D) The U.S. Congress.
• E) the European Union.

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Definitions:

GDP

Gross Domestic Product, a monetary measure of the market value of all final goods and services produced in a country during a specific period.

Automatic Stabilizer

Economic policies and programs, such as unemployment benefits, that automatically adjust to stabilize an economy's fluctuations without direct intervention by policymakers.

Welfare

Financial and social support programs provided by the government to assist individuals and families in need.

Transfer Payments

Money or benefits distributed by the government to individuals without requiring a direct exchange of goods or services, often aimed at providing social welfare.