The Primary Reason That the General Agreement on Tariffs and Trade

question 91

Multiple Choice

The primary reason that the General Agreement on Tariffs and Trade was established was to

• A) set trade tariffs between countries.
• B) coordinate trade throughout the world.
• C) provide a means for countries to reduce international trade barriers.
• D) help LDCs to increase their trade.

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Definitions:

Total Output

The total quantity of goods and services produced in an economy over a given period of time.

Capital Stock

The total amount of physical goods existing in a company or economy that can be used to produce more goods and services.

Snow-removal Business

A service-oriented business focused on removing snow from roads, driveways, and pavements to ensure safety and accessibility.

Productive Workers

Employees who contribute significantly to the output of goods or services within an organization or economy.