A Major Flaw of the Original General Agreement on Tariffs

question 57

Multiple Choice

A major flaw of the original General Agreement on Tariffs and Trade (GATT) was that it lacked the power to ________.

• A)displace the WTO
• B)reduce nontariff barriers to international trade
• C)govern exchange rates
• D)enforce world trade rules

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Definitions:

Incident Report

A formal record describing the details of an unexpected event, often used for safety and quality control processes.

Directive

An instruction or order given by an authority, meant to guide actions or establish procedures within an organization or community.

Comprehensiveness

The characteristic of being thorough and encompassing most or all parts or facets of something.

Objectivity

The quality of being unbiased, unprejudiced, and impartial.