Which of the Following Statements About the 1994 General Agreement

question 3

Multiple Choice

Which of the following statements about the 1994 General Agreement on Trade in Services is false?

• A) It is patterned after the concepts that GATT applies to trade in goods.
• B) Expands provisions governing trade in services provided for in the original GATT agreement.
• C) Prohibits a requirement that local inventors must own a percentage of a foreign services company.
• D) Allows each country to list exceptions to the General Agreement for certain service industries.

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Definitions:

Superior Quality

A term describing products or services that exceed average industry standards in performance, durability, or features.

Seasonal Discounts

Temporary reductions in price offered during certain times of the year, often related to holidays, seasons, or periods of lower demand.

Absence Of Tariffs

A scenario where there are no taxes or duties imposed on imported or exported goods, often leading to more free trade between countries.

Dumping

A protectionist strategy in which a company sells its exports to another country at a lower price than it sells the same product in its domestic market.