The WTO Was

question 155

Multiple Choice

The WTO was:

• A) formed shortly after World War II.
• B) authorized in the American Constitution.
• C) formed in 1995.
• D) formed in 1876.
• E) formed to unify the European continent.

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Definitions:

Externalities

Economic outcomes that impact third parties not directly involved, which can either be advantageous or disadvantageous.

Significant Costs

Expenses that are sufficiently large to impact an entity's financial decisions or financial statements.

Externalities

Economic impacts of a product or service on parties who do not directly participate in the transaction, which can be negative (pollution) or positive (vaccination benefits).

Referent Power

A form of influence based on the charisma and interpersonal appeal of the leader, rather than on formal authority.