In 1948, the _____ Established the Rules for International Trade

question 31

Multiple Choice

In 1948, the _____ established the rules for international trade in the postwar world.

• A) General Agreement on Tariffs and Trade
• B) World Trade Organization
• C) International Organization for Standardization
• D) Bretton Woods system
• E) Omnibus Foreign Trade and Competitiveness Act

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Definitions:

Gross Investment

The total amount of capital invested in a firm, including replacements for depreciation and new investments for expansion.

Net Investment

The difference between total investment in an economy and the depreciation of capital.

Depreciation

The process by which capital assets lose value over time due to use, wear and tear, or obsolescence.

Capital Stock

The total amount of physical goods or financial assets that a company possesses which are used in the production of goods and services.