Question

what was the main goal of gatt?

multiple choice

○ limit foreign competition

○ make loans to struggling nations

○ increase domestic competition

Explanation:

GATT (General Agreement on Tariffs and Trade) was a multilateral agreement focused on reducing trade barriers like tariffs and quotas to promote international trade. The options provided include:

1. "limit foreign competition" is the opposite of GATT's purpose, as it sought to open markets, not restrict foreign access.
2. "make loans to struggling nations" is the role of institutions like the International Monetary Fund or World Bank, not GATT.
3. "increase domestic competition" is a secondary effect of GATT's work (as foreign goods enter markets), but note that the core goal of GATT was to liberalize international trade. However, among the given options, this is the only one aligned with the intended outcomes of GATT's market-opening measures.

Answer:

increase domestic competition