When a Complaint Is Made to the World Trade Organization

question 62

Multiple Choice

When a complaint is made to the World Trade Organization about a dumping tariff, the WTO:

• A) has the power to force the nation to change the restriction
• B) does not have the power to force the nation to change the restriction
• C) can fine the nation
• D) can block all trade with the nation
• E) none of the other choices are correct

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Definitions:

Trade

The exchange of goods, services, or both between parties, which can occur domestically or internationally.

Perfectly Competitive Market

A market structure characterized by many sellers and buyers, homogeneous products, and the free entry and exit of firms, leading to efficient outcome prices.

Society

A group of individuals living together in a more or less ordered community, often sharing common cultural and social norms.

Public Park

An area of natural, semi-natural, or planted space set aside for human enjoyment and recreation or for the protection of wildlife or natural habitats.