--%>
Assignment Help - homework help

What are the major provisions of GATT

What are the major provisions of GATT

E

Expert

Verified

The major provisions of GATT include:

a. Tariff reductions will average 33 percent.

b. Services are included in the treaty’s trade rules.

c. Quotas on textiles and apparel imports will be replaced by tariffs and these, too, will be eliminated gradually.

d. Agriculture will also be affected with members agreeing to cut subsidies to agriculture and quotas on agricultural imports.

e. Intellectual property will be protected by international patent, trademark, and copyright agreements.

f. When fully implemented, experts estimate the GATT agreement will boost world GDP by $6 trillion or 8 percent, and U.S. consumers will save about $30 billion each year.

   Related Questions in Business Economics

  • Q : Utilitarianism of Jeremy Bentham The

    The utilitarianism of Jeremy Bentham is generally closely akin to the philosophies of: (1) Epicurianism and hedonism. (2) pragmatism and instrumentalism. (3) asceticism and stoicism. (4) dialecticism and materialism. (5) fundamentalism and predestinat

    		•
  • Q : Recycling center Suppose you go to a

    Suppose you go to a recycling center and are paid 25 cents per pound for your aluminum cans.  However, the recycler charges you $.20 per bundle to accept your old newspapers.

    		•
  • Q : Utility functions to calculate scores

    Question: 1. Nancy is taking a course in Fairy Tales from Professor Grimm and another in Philosophy from Professor Par. In each course there will be two exams, a midterm exam and a final exam. In Professor Grimm's

    		•
  • Q : Who define economics as a subset of

    Economists who viewed economics like a subset of jurisprudence combined: (1) John Stuart Mill. (2) Alfred Marshall. (3) Karl Marx. (4) William Stanley Jevons. (5) Adam Smith. Hey friends please give your opinion fo

    		•
  • Q : Explain about the principle of

    Economic efficiency needs that, relative to the other goods which different individuals might consume, the people who value exact goods relatively the most should own and/or use all goods. Such principle is termed as: (i) economic equity. (ii) allocat

    		•
  • Q : Utility with food coupons Question: In

    Question: In Vancouver the Salvation Army encourages people to make food voucher donations to panhandlers instead of simply giving them cash. You can buy a food voucher for $5 and give it to a panhandler who can use it to purchase food. The Sa

    		•
  • Q : Resources of private Capitalism I have

    I have a problem in economics on Resources of private Capitalism. Please help me in the following question. The Private individuals own most resources and find out how they will be employed in an economic system of: (1) Socialism. (2) Capitalism. (3)

    		•
  • Q : Describe financial leverage and low

    Describe briefly high financial leverage, low operating leverage?

    		•
  • Q : Possession protection of property rights

    Why possession protection of property rights and private property promotes the market system?

    		•
  • Q : Basic supply determinants of other than

    Illustrate the 6 basic supply determinants of other than price?

    		•