Which of the Following Statements Regarding the 1994 Agreement on Import

question 38

Multiple Choice

Which of the following statements regarding the 1994 Agreement on Import Licensing Procedures is false?

• A) Applications should not be refused because of minor errors in paperwork.
• B) The WTO Import Licensing Committee must be notified if any new products will become subject to licensing requirements.
• C) It calls for the procedures to be fair, reasonable, and nondiscriminatory.
• D) Where licenses are used to administer quotas, the amount of the quota already used must be published for all importers to see.
• E) All of the above are correct.

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Definitions:

Commensurability

The principle or quality of being measurable or comparable in a certain way, especially with respect to values or units.

Utilitarianism

An ethical theory that posits that the best action is the one that maximizes utility, often defined as maximizing happiness and reducing suffering.

Preferences

The likes, desires, or choices a person has, which influence their behavior and decision-making, often considered in economics, psychology, and ethics.

Justice

The principle of moral righteousness and fairness that governs individual behavior and societal laws.