Which of the Following Is a Difference Between the General

question 9

Multiple Choice

Which of the following is a difference between the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) ?

• A)GATT was involved only in merchandise trade,while the WTO covers services and trade-related aspects of intellectual property.
• B)GATT was involved in settling disputes in a fast way,while the WTO relies on voluntary cooperation.
• C)GATT was developed to support Mexico's efforts to become more market oriented,while the WTO aims to launch new provisions against dumping.
• D)GATT resolved more trade disputes in its first decade,while the WTO is susceptible to blockage.
• E)GATT was the institutional foundation for world trade,while WTO is a multilateral agreement with no institutional foundation.

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