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The General Agreement on Tariffs and Trade (GATT) expanded considerably into a multilateral trading system called
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- As an outcome of the Uruguay Round of intergovernmental tariff negotiations on the General Agreement on Tariffs and Trade, the first multilateral, legally enforceable agreement covering trade and investment in the services sector was formulated. This is termed the _____. A. Trade-Related Aspects of Intellectual Property Rights (TRIPs)B. Trade-Related Investment Measures (TRIMs)C. General Agreement on Trade in Services (GATS)D. Comprehensive Economic Cooperation Agreement (CECA)E. Trade in Services and Investment Obligations Act (TSIO)
- Which of the following factors was primarily responsible for the excess in production capacity in the United States after World War II? A. The United States government raised the tariffs on most imports by 60%.B. Many firms from other nations shifted their production facilities to the United States.C. Domestic demand was at a historic low and resulted in excess capacity.D. The returning military after World War II increased the labor supply in the United States.E. The implementation of the Marshall Plan dampened the overseas demand.
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