Of the Three Main Principles of GATT, the Most Favored

Multiple Choice

 Of the three main principles of GATT, the most favored nation principle meant that

A) a tariff rate granted to one member of GATT would be extended to all members.
B) foreign firms would be subject to the same rules and regulations as a country's domestic firms.
C) trade disputes would be settled by the unanimous agreement of all parties to the dispute.
D) countries should specialize in producing goods for which they have the lowest opportunity cost of production.