Which of the Following Statements About the World Trade Organization

question 106

Multiple Choice

Which of the following statements about the World Trade Organization (WTO) is true?

• A)The WTO is a branch of the U.S.government.
• B)Only countries that belong to established economic communities are granted membership in the WTO.
• C)Only developed nations are granted membership to the WTO.
• D)The WTO's main function is to help least developed countries grow their economies.
• E)The WTO is the only international organization that deals with the global rules of trade between nations.

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Definitions:

Funding Obligation

Refers to the requirement for an entity to provide financial resources for a project, debt, or other commitment as agreed upon.

Underfunded Plans

Retirement or pension plans that lack enough assets to cover all present and future obligations.

Life Insurance

Life insurance is a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

Nonmandatory Benefits

These are benefits not required by law that employers offer voluntarily, such as retirement plans, health insurance beyond legal minimums, and paid time off.