Which of the following will support the claim that the development of the GATT, WTO, and various trade blocs have been successful in promoting international trade?
A) Trade blocs have resulted in a lot of trade diversion from low-cost suppliers.
B) World exports, as a proportion of world GDP, have been growing rapidly over the last few
C) Tariffs are an important source of revenue for the governments of many countries.
D) When one country introduces trade barriers such as import tariffs, trading partners often

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Quizplus · Accepted Answer

World exports, as a proportion of world GDP, have been growing rapidly over the last few decades, indicating that international trade has been expanding. This growth can be attributed to the efforts of organizations like the GATT and WTO, as well as the formation of various trade blocs, which have worked towards reducing trade barriers and promoting free trade.

Which of the Following Will Support the Claim That the Development