The Purpose of the World Trade Organization Is to ________

question 75

Multiple Choice

The purpose of the World Trade Organization is to ________.

• A) facilitate trade among member nations through a system of rules
• B) recommend legislation to lessen the advantages of more advanced nations relative to developing countries
• C) manage foreign currency exchanges to alleviate the effects of inflation
• D) enforce quotas and tariffs imposed by member nations

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Definitions:

G-77

A coalition of developing countries established to promote their collective economic interests at the United Nations.

Dependency Theory

Dependency theory is a socioeconomic theory suggesting that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.

Developed Nations

Countries that have a high level of economic development, industrialization, and standard of living, often characterized by a high Human Development Index (HDI).

Lexmark v. Impressions Products

A significant legal case involving patent rights and the exhaustion doctrine, as decided by the U.S. Supreme Court.