Practice Quiz

FSOT: 500 Test Prep Study Questions

Category - Economics

Start a Study Session Sign up for Question of the Day
In regard to the Most Favored Nation (MFN) principle that is a key provision of the General Agreement on Tariffs and Trade (GATT) and World Trade Organization (WTO) trade law, what do GATT and the WTO say regarding the North American Free Trade Agreement (NAFTA), a regional trading agreement?
  1. NAFTA's terms are fully consistent with MFN
  2. NAFTA is permitted as part of a deal among certain countries allowing other free trade agreements
  3. NAFTA is allowed as an exception since it does not raise barriers against non-members
  4. NAFTA provides MFN to non-member countries
Explanation
Answer: C - NAFTA is allowed as an exception since it does not raise barriers against non-members.
Previous Next
Was this helpful? Upvote!
Login to contribute your own answer or details
Start a Study Session Sign up for Question of the Day

Top questions

Related questions

Most popular on PracticeQuiz