The Framework Agreement has a provision that authorizes an exception to the MFN treatment rule when the difference in treatment is the result of ________
A. a member granting monopoly status to a service supplier
B. an agreement for the avoidance of double taxation
C. adopting the guidelines specified by the Council on Trade in Services
D. a member retaining restrictive laws governing services
B
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Which of the following is NOT one of the guidelines for managing luxury brands?
A) Besides brand names, other brand elements — logos, symbols, packaging, signage — can be important drivers of brand equity for luxury products. B) Secondary associations from linked personalities, events, countries, and other entities should be avoided. C) Luxury brands must employ a premium pricing strategy, with strong quality cues and few discounts and markdowns. D) All aspects of the marketing program for luxury brands must be aligned to ensure high-quality products and services and pleasurable purchase and consumption experiences. E) Luxury brands must carefully control distribution via a selective channel strategy.
Which of the following is true regarding price elasticity?
A) The higher the elasticity, the lesser is the volume growth resulting from a 1 percent price reduction. B) Within the price indifference band, price changes have little or no effect on demand. C) If demand is elastic, sellers will consider increasing the price. D) Price elasticity does not depend on magnitude and direction of the contemplated price change. E) When demand is inelastic, sellers should lower prices in order to increase total revenue.