The Principle by Which All Countries Involved in GATT Negotiations

question 110

Multiple Choice

The principle by which all countries involved in GATT negotiations receive the same tariff rates as the country with the lowest negotiated tariff rates is called

• A)regional trading areas.
• B)Uruguay Round.
• C)customs unions.
• D)most-favored nation.
• E)economic unionization.

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Definitions:

Bond Liability

The obligation of the issuer of the bond to repay the principal amount along with interest to the bondholders on specified dates.

Premium

An amount paid in excess of a standard rate or value, often associated with insurance costs or bond prices.

Fiscal Year-end

The end of a 12-month period used by governments and businesses for accounting and financial reporting purposes.

Par Value

The face value of a bond or stock as stated by the issuing company, which bears no correlation to its market value.