One of the Basic Elements of the General Agreement on Tariffs

question 63

Multiple Choice

One of the basic elements of the General Agreement on Tariffs and Trade (GATT) is that:

• A) member nations are exempt from import tariffs to other member nations.
• B) all tariffs shall be abolished among member nations at the time of membership.
• C) the World Court shall review all claims and make final judgments.
• D) trade shall be conducted on a nondiscriminatory basis.
• E) trade in services and investments will be excluded from the purview of the GATT.

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Definitions:

Morpheme

The smallest grammatical unit in a language, incapable of further division, that carries meaning; examples include root words, prefixes, and suffixes.

Syntax

The set of rules, principles, and processes that govern the structure of sentences in a given language, including word order and sentence organization.

Phoneme

A Phoneme is the smallest unit of sound in a language that can distinguish meaning between words.

Preference

A greater liking for one alternative over another or others.