What Was the Outcome for GATT, After the Ratification of the Uruguay

question 38

Multiple Choice

What was the outcome for GATT, after the ratification of the Uruguay Round agreements?

• A) It came into effect retrospectively, leading to huge payment deficits for member nations.
• B) It became part of the World Trade Organization.
• C) It triggered formation of competitive treaties from Asian nations.
• D) The European Union decided to stay away from the treaty.
• E) The original purpose was sidelined in favor of political and military intervention between member states.

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Definitions:

Standardization of Work Processes

The practice of implementing uniform procedures and criteria in organizational tasks to improve efficiency and quality.

Labour Coordination

The process of organizing and managing a workforce in order to achieve efficient production and meet organizational objectives.

Formal Means

Established, official procedures or methods.

Functional Departmentation

The organization of a company into departments based on functions such as marketing, finance, and production.