The General Agreement on Tariffs and Trade (GATT)was Replaced by Which

question 41

Multiple Choice

The General Agreement on Tariffs and Trade (GATT) was replaced by which of the following organizations?

• A)The Organisation for Economic Co-operation and Development (OECD)
• B)The World Bank (WB)
• C)The Bank for International Settlements (BIS)
• D)The World Trade Organization (WTO)

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Definitions:

Fixed Expenses

Costs that remain constant regardless of any change in a company's activity level, such as lease payments, insurance, and property taxes.

Sales

Represents the total income generated by a company from selling goods or services before any expenses are subtracted.

Minimum Required Rate

The lowest return rate that an investment must offer to be considered viable or acceptable.

Residual Income

The income that remains after deducting all costs, including the cost of capital.