Which of the Following Is NOT a True Statement About

question 56

Multiple Choice

Which of the following is NOT a true statement about the WTO and the protection of endangered species?

• A)The environmental movement has been critical of the WTO.
• B)Under WTO rules, countries have a right to impose import barriers to protect endangered species.
• C)The WTO did not allow the U.S. to protect sea turtles.
• D)GATT rules prohibit discrimination based on the production process used.

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Definitions:

Substitution Effect

The economic principle stating that as the price of a good or service rises, individuals will replace more expensive items with less costly alternatives.

Output Effect

The impact that changes in output have on economic activity, such as variations in production levels affecting GDP.

Resource

An economic or productive factor required to accomplish an activity or to provide a service, such as labor, land, capital, and raw materials.

Wage Rate

The amount of compensation a worker receives per unit of time or per task performed.