Every Country Engages in Some Form of Protectionism

question 301

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) United Nations Agreement on Trade (UNAT).
• B) North American Free Trade Agreement (NAFTA).
• C) General Agreement on Tariffs and Trade (GATT).
• D) North Atlantic Treaty Organization (NATO).
• E) World Trade Association Treaty (WTAT).

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Definitions:

Production Equipment

Machinery and tools that are used in the manufacturing process to create products and goods.

Bonds

Fixed-income instruments that represent a loan made by an investor to a borrower, typically corporate or governmental, which pay periodic interest payments and repay the principal at maturity.

Financial Assets

Assets that derive value from a contractual claim, such as stocks, bonds, bank deposits, and other securities.

Total Assets

The sum of all resources owned by an individual, corporation, or country, including both current and noncurrent assets.