Which of the Following Is True Ofthe General Agreement on Tariffs

question 81

Multiple Choice

Which of the following is true ofthe General Agreement on Tariffs and Trade (GATT) ?

• A)It is now called the World Agreement on Trade and Tariffs.
• B)It was the global trade agreement that did away with the gold standard.
• C)It was a United States' policy to raise tariffs on imported sugar.
• D)It was the first global trade agreement that followed World War II.
• E)It was a global trade agreement to raise tariffs.

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Definitions:

Cost of Goods Available for Sale

The total cost of merchandise or inventory that a business has available to sell to customers during a certain period, including both beginning inventory and purchases made during the period.

Units of Inventory

The quantity of individual items or products that a company has available for sale or use at any given time.

Recent Purchases

Items or services bought by a company or individual in the near past.

Inventory and Cost of Goods Sold

Represents the goods available for sale during a period and the cost associated with those goods that have been sold.