Which of the Following IGOs Reduces Transaction Costs by Providing

question 7

Multiple Choice

Which of the following IGOs reduces transaction costs by providing an ongoing procedure for over a hundred countries to coordinate their tariffs with each other?

• A) International Monetary Fund
• B) World Trade Organization
• C) World Bank
• D) International Court of Justice

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Definitions:

Other Countries

Pertains to nations different from one's own, implicating a global perspective or comparison.

Direct Foreign Investment

Occurs when a firm headquartered in one country builds or purchases operating facilities or subsidiaries in a foreign country.

Physical Assets

Tangible and material assets such as buildings, machinery, and equipment owned by a business.

International Environment

The global context within which organizations operate, including economic, social, cultural, and political factors.