Every Country Engages in Some Form of Protectionism

question 198

Multiple Choice

Every country engages in some form of protectionism.However,protectionism has declined internationally over the past 50 years due in large part to the:

• A)Balance of Trade Agreement (BOTA).
• B)International Trade Feedback Act (ITFA).
• C)General Agreement on Tariffs and Trade (GATT).
• D)Gross Domestic Product Agreement (GDPA).

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Definitions:

Fixture Test

A legal test used to determine whether a physical object is permanently attached to real property and thus considered a fixture, affecting the object's legal treatment in terms of possession and property rights.

Realty

Real estate, referring to the ownership of land and property.

Affixed

Attached or secured to something in a permanent or semi-permanent way.

Material Injury

Harm or damage that is significant and not minor, affecting the value, usefulness, or normal function of something.