One of the Basic Elements of the General Agreement on Tariffs

question 79

Multiple Choice

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

• A)no nation shall unfairly create tariffs against another.
• B)all tariffs shall be abolished among member nations by 2010.
• C)the World Court shall review all claims and make final judgments.
• D)trade shall be conducted on a nondiscriminatory basis.
• E)the United Nations Trade Agency (UNTA)shall serve as watchdog.

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Definitions:

Worst-case Scenario

The most severe or unfavorable outcome imaginable in a given situation.

Flow Experience

Total absorption in work; when flow occurs, things seem to go just right

Perfectionism

A personality trait characterized by a person's striving for flawlessness and setting excessively high performance standards.

Worst-case Scenario

The most severe or undesirable outcome that could possibly occur in a situation.