To help developing countries expand their industrial base, some industrial countries have reduced tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries.This scheme is referred to as
A) generalized system of preferences.
B) export-led growth.
C) international commodity agreement.
D) reciprocal trade agreement.

Question

Quizplus · Accepted Answer

The scheme described in the question is the generalized system of preferences, which involves reducing tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries.

To Help Developing Countries Expand Their Industrial Base, Some Industrial