The GATT's Most-Favored Nation Clause Means That Tariff Reductions Granted

question 159

Multiple Choice

The GATT's most-favored nation clause means that tariff reductions granted by a member of GATT to imports from one country

• A)apply only to that country
• B)are only extended to certain favored members of GATT
• C)are extended to all other members of GATT
• D)must be matched by equivalent quota reductions
• E)are extended to all other countries of the world

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Definitions:

Budgeted Beginning

The initial planned value or quantity for financial accounts or inventory levels at the start of a budget period.

Cash Balance

Cash balance refers to the amount of cash or cash equivalents that a company or an individual has available at any given time.

Cash Receipts

The collection of cash, typically from customers, which is recorded during the period it is received.

Cash Disbursements

The outflow of cash to pay for goods, services, and financial obligations during a specific period of time.