An Example of the World Trade Organization's Ruling in Favor

question 72

Multiple Choice

An example of the World Trade Organization's ruling in favor of profits and against human rights is that it:

• A) voted to allow Monsanto to dispose of chemical waste in Newfoundland Sound
• B) insisted that European countries import beef from the United States even though U.S. beef is treated with potentially carcinogenic hormones
• C) demanded that African countries pay a tariff for importing non-brand-name drugs
• D) asked the United Nations to send troops to protect WTO members against the onslaught of violent protesters
• E) removed 25 countries as members because their economic expansion lagged behind that of other countries.

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Definitions:

Credit Sales

Sales made on credit, which allow the buyer to pay the seller at a later date, typically recorded as accounts receivable.

Cash Expenditures

The total amount of money a company spends on acquiring physical goods, services, or assets in a given period.

Accounts Receivable

Money owed to a company by its clients or customers for goods or services that have been delivered but not yet paid for.

Cost of Goods Sold

An expense representing the total cost of materials and labor directly associated with the production of goods sold by a business.