A Requirement That All WTO Members Extend the Same Favorable

question 14

Multiple Choice

A requirement that all WTO members extend the same favorable terms of trade to all members that they extend to any single member is called ________.

• A) normal trade relations
• B) antidumping duties
• C) local content requirements
• D) countervailing duties

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Definitions:

Impliedly Warrants

Indicates that a warranty is given by implication, rather than expressly stated, based on the circumstances or nature of a transaction.

Authority

The power or right to give orders, make decisions, and enforce obedience.

Liable

Being legally responsible for something, typically referring to the obligation to compensate for loss or damage.

Disclosed Principal

A principal whose identity is known to a third party at the time the agent makes a contract with the third party.