The General Agreement on Tariffs and Trade (GATT)______.
A)is a treaty governing interstate commerce within different countries
B)is designed to promote trade between different states within a country
C)levies a flat rate or tariff on trade between member countries
D)was established in 1947

Question

Quizplus · Accepted Answer

The question seeks information about the General Agreement on Tariffs and Trade (GATT). Among the options provided, option D states that GATT was established in 1947, which is the correct answer. Option A is incorrect because GATT is an international agreement between countries, not a treaty governing interstate commerce within countries. Option B is incorrect because GATT is designed to promote international trade between countries, not between different states within a country. Option C is also incorrect because GATT does not levy tariffs but rather seeks to reduce tariffs and trade barriers through negotiations between member countries.