Which of the Following Is a Difference Between the General

question 114

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

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Definitions:

New England

A region located in the northeastern corner of the United States comprising six states: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont, known for its colonial history, distinct seasons, and cultural heritage.

Triangular Trade

A historical trade system in the 16th through 19th centuries involving the transatlantic slave trade among Europe, Africa, and the Americas.

Enslaved Africans

Describes Africans who were forcibly taken from their homeland and subjected to slavery, primarily in the Americas and Europe, from the 16th to the 19th centuries.

The Americas

A landmass comprising the continents of North America and South America, including associated islands and regions, known for its diverse cultures, languages, and histories.