Which of the Following Is Permitted by the World Trade

question 44

Multiple Choice

Which of the following is permitted by the World Trade Organization?

• A)Payment of unfair subsidies by government
• B)Dumping
• C)Countervailing duties
• D)Trade of contraband substances

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Definitions:

Income Inelastic

Referring to goods or services whose demand does not significantly change as people's income levels change.

Price of Sugar

The cost at which sugar is sold in a market, influenced by factors such as supply, demand, production costs, and market conditions.

Quantity Demanded

Represents the total amount of a good or service that consumers are willing and able to purchase at a given price.

Relatively Inelastic

Describes a situation where the demand or supply of a product is not significantly changed by alterations in price.