The Establishment of GATT Resulted In

question 54

Multiple Choice

The establishment of GATT resulted in:

• A)lower tariff rates.
• B)an increase in the net welfare loss of economies.
• C)a decrease in the total world trade.
• D)increased protectionism.
• E)a rise in the price of imports.

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Definitions:

Dissenting Opinions

Written opinions by judges who disagree with the majority decision in a court case.

Concurring Opinions

Judicial opinions that agree with the overall conclusion of the majority in a court ruling but may differ on reasoning or legal principles.

Binding Legal Principle

A legal rule or doctrine that must be followed by lower courts, or as part of a contract, must be adhered to by the parties involved.

Court's Decision

A court's decision is the final judgment or order issued by a court of law regarding a case, determining the resolution of legal disputes.