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:

Procedural

Relating to the process of performing tasks or the steps involved in completing an action, often in a specific order.

Congruence

A condition in which an individual's ideal self and actual experience are consistent or very similar.

Declarative

Declarative pertains to statements that convey information, in psychology specifically refers to memory that can be consciously recalled, such as facts and events.

Procedural

Relating to the procedures or steps followed to accomplish a task, often used in the context of legal, organizational, or programming processes.