In the Following Figure, the First Panel Shows a Market

Multiple Choice

In the following figure, the first panel shows a market situation prior to regulation and the second panel shows the effects of regulation.Figure 14.2
In the figure,
D: Demand curve for automobiles
S₁: Supply curve of automobiles prior to regulation
S₂: Supply curve of automobiles after regulation
FG: Clean up cost per unit
-Which of the following is true of the General Agreement on Tariffs and Trade (GATT) ?

A) It is now called the World Agreement on Trade and Tariffs.
B) It was the global trade agreement that did away with the gold standard.
C) It was a policy of the United States to raise tariffs on imported sugar.
D) It was the first global trade agreement that followed World War II.
E) It was a global trade agreement to raise tariffs.