The "Escape Clause" of the GATT Agreement Derives Its Name

question 60

Multiple Choice

The "escape clause" of the GATT agreement derives its name from the fact that:

• A) It allows a country to escape from having trade disputes settled by GATT guidelines.
• B) It permits a country to escape from its previously negotiated tariff obligations.
• C) It permits a country to be relieved of having to make its balance of payments obligations for a short period of time.
• D) None of the above.

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Definitions:

Goal State

The desired final condition or achievement a person or a system aims to reach.

Problem Solving

Problem solving is the cognitive process of finding a solution to a challenging situation or overcoming a barrier through logical thinking, creativity, and decision-making strategies.

Means-End Analysis

A problem-solving method that involves identifying the difference between the current state and the goal state, then creating and taking steps to reduce the difference.

Current State

The existing condition or situation of a system, organization, or individual at a particular time.