As a Result of the GATT,average U

question 31

True/False

As a result of the GATT,average U.S.tariff rates have fallen from 50% in 1930 to less than 4% today.

---

Definitions:

Office Machines

Equipment used in an office environment for administrative or clerical tasks, such as printers, copiers, and computers.

Depreciation

The reduction in the value of an asset over time, typically due to wear and tear, obsolescence, or market conditions.

Net Investment

The total spending on new capital minus depreciation on existing capital within a given period.

Gross Investment

Refers to the total amount of investment in physical assets and capital expenditures made by businesses before accounting for depreciation.