The WTO (World Trade Organization)______

question 38

Multiple Choice

The WTO (World Trade Organization) ______.

• A)replaced the GATT in 1945
• B)governs trade in goods but not services
• C)has opened up markets for regulated industries (e.g.,agriculture and textiles)
• D)is governed by NAFTA

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Definitions:

Investment

Investment involves allocating resources, such as capital or time, in the expectation of generating a profit or benefit in the future.

Interest Rates

A charge, calculated as a percentage of the principal, demanded by a lender from a borrower for assets' usage.

Disposable Income

Income that remains for saving or spending after direct taxes (such as income tax) have been deducted from an individual's earnings.

Saving

The process of setting aside a part of current earnings for future use.