The average tariff rates for manufactured goods have fallen significantly since 1950, and now stand at about
A) 18 percent.
B) 5.9 percent.
C) 4.8 percent.
D) 1.6 percent.

Question

The average tariff rates for manufactured goods have fallen significantly since 1950, and now stand at about
A) 18 percent.
B) 5.9 percent.
C) 4.8 percent.
D) 1.6 percent.

Quizplus · Accepted Answer

The impact of GATT agreements on average tariff rates for manufactured goods is that average tariff rates have fallen significantly since 1950 and now stand at about 1.6 percent.

The Average Tariff Rates for Manufactured Goods Have Fallen Significantly