Which of the Following Is a Provision of the Uruguay

question 6

Multiple Choice

Which of the following is a provision of the Uruguay Round Agreement?

• A) A wide range of services were to be excluded from GATT fair trade and market access rules.
• B) Tariffs on industrial goods were to be raised by more than one-third, and tariffs were to be scrapped on more than 50 percent on wide range of services.
• C) The International Monetary Fund (IMF) was to be created to implement the GATT agreement.
• D) Barriers on trade in textiles were to be significantly reduced over 10 years.
• E) Average tariff rates imposed by developed nations on manufactured goods were to be raised by 20 percent of the value, the highest level in modern history.

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Definitions:

Due Process Protections

Guarantees under the law that provide individuals the right to fair procedures and trials.

Superseniority

A policy within unions that grants certain union officials higher priority for job retention during layoffs, over and above that based on tenure or performance.

Interest Arbitrator

An impartial third party who resolves disputes between labor unions and employers by making binding decisions.

Grievance Disputes

Conflicts arising from alleged violations of workplace agreements or contracts, often resolved through negotiated procedures.