Every country engages in some form of protectionism. However, protectionism has declined internationally over the past 50 years due in large part to the:
A)International Trade Feedback Act (ITFA).
B)Balance of Trade Agreement (BOTA).
C)General Agreement on Tariffs and Trade (GATT).
D)Gross Domestic Product Agreement (GDPA).

Question

Quizplus · Accepted Answer

The General Agreement on Tariffs and Trade (GATT) is a multilateral agreement designed to promote international trade by reducing or eliminating trade barriers, such as tariffs and quotas. GATT has been replaced by the World Trade Organization (WTO), which continues to promote global trade liberalization. The International Trade Feedback Act (ITFA), Balance of Trade Agreement (BOTA), and Gross Domestic Product Agreement (GDPA) are not real international agreements.

Every Country Engages in Some Form of Protectionism