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1 year ago

What are some of the norms, principles, and rules associated with the gatt and wto?

1 answer:

6 0

Some of the norms, principles, and rules associated with the GATT and WTO are that, "they set up reciprocity in trade making, helps facilitate cooperation, and leads to increased aggregate trade."

The General Agreement on Tariffs and Trade (GATT) is an international trade treaty to promote international trade by reducing or eliminating trade barriers. GATT's most important principle was that of trade without discrimination, where each member nation opened its markets equally to others.

The World Trade Organization (WTO) is the only international organization which deals with the global rules of trade. The goal of the WTO is to ensure that trade flows as smoothly and predictably as possible.

Hence, these were some of the norms, principles, and rules associated with the GATT and WTO.

To learn more about GATT here:

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The multiple choices are:

$5,589.04

$7,452.05

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Explanation:

L+K=12,000

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Substitute for K in the second equation

0.0975=(12000-L)/12000*0.0805+L/12000*0.117

0.0975=(966-0.0805L)/12000+0.117L/12000

0.0975=(966-0.0805L+0.117L)/12000

12000*0.0975=966+0.0365 L

1170 -966=0.0365L

204=0.0365L

L=204/0.0365

L=$ 5,589.04

K=$12,000-$ 5,589.04

K=$6,410.96

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