Which of the Following Statements Is True Regarding GATT

question 39

Multiple Choice

Which of the following statements is true regarding GATT?

• A)GATT attempted to liberalize trade restrictions in one go.
• B)In its early years,GATT was unsuccessful and hence was superseded by the World Bank.
• C)GATT regulations were mostly enforced by the EU nations rather than by a mutual monitoring mechanism.
• D)Tariff reductions through negotiations were completed in three rounds.
• E)The last round for tariff reduction,the Uruguay Round,was launched in 1986 and completed in December 1993.

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Definitions:

Rocks

Rocks refer to solid mineral material forming part of the surface of the earth and other similar planets, exposed on the surface or underlying the soil or oceans.

Statistician's Fallacy

The error of ignoring the variability inherent in data or conclusions derived from statistical processes.

Logic

The systematic study of the principles of valid inference and correct reasoning.

Statistics

The science of collecting, analyzing, presenting, and interpreting data.