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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