Delegates from different countries of the world met at Geneva in April 1947 which resulted in the formation of the first global trade agreement. Its main objective was:
a. to create multiple trade barriers in the member countries.
b. to enable the member countries to maintain their autarkic conditions.
c. to provide security to the domestic producers of the member countries by prohibiting international trade.
d. to create an atmosphere of economic rivalry in the international sphere.
e. to liberalize trade for mutual prosperity of the members.
Question 2
Financial intermediaries are best described as:
a. informal institutions that provide funds to the government to manage budget deficits.
b. institutions that accept deposits and make loans.
c. institutions that control the money supply in the economy.
d. institutions that provide financial aid to foreign countries.
e. individuals who manage other's investment portfolios.
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