According to GATT,quotas Are Considered Acceptable Devises for Regulating Trade

question 36

Multiple Choice

According to GATT,quotas are considered acceptable devises for regulating trade only where:

• A) A nation is imposing a temporary safeguard to protect its balance of payments.
• B) They are enacted into law by a nation's legislative body.
• C) Nations are engaged in a trade war.
• D) A nation has first petitioned the United Nations for permission to do so.

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Definitions:

Clearing

The process of reconciling purchases and sales of various options, futures, or securities, as well as the direct transfer of funds from one financial institution to another.

Refuse To Honor

The act of not accepting, acknowledging, or fulfilling an agreement, request, or instruction.

Enough Money

Implies having sufficient funds to meet needs, obligations, or desired goals without financial strain.

Sue

The act of bringing a legal action against an individual or entity to seek redress or enforcement of rights.