The Objectives of the General Agreement on Tariffs and Trade

question 2

True/False

The objectives of the General Agreement on Tariffs and Trade was to liberalize trade by eliminating or reducing tariffs. 

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Definitions:

Deposits

Funds placed into an account at a financial institution for safekeeping and often to earn interest.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulating banks, maintaining financial stability, and providing banking services to governmental institutions.

Board of Governors

The Federal Reserve System’s governing body.

Federal Open Market Committee

A branch of the Federal Reserve that oversees open market operations, including the buying and selling of government securities, to influence the money supply and interest rates.