International Institutions Such as the WTO Have Public Good Characteristics

question 28

Multiple Choice

International institutions such as the WTO have public good characteristics.Therefore,international rules and procedures

• A) necessarily benefit all governments equally.
• B) make it easier to deny a government these benefits once an institution has been established.
• C) do not decrease as a function of the number of governments that belong to the institution.
• D) cannot be frustrated by free riding.
• E) make it impossible to deny a government these benefits once an institution has been established.

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Definitions:

Basket Of Goods

A collection of products or services considered representative for purposes of measuring inflation or cost of living.

Base Year

A specific year against which economic or financial data is compared to measure changes and trends over time.

Price

The amount of money required to purchase a good, service, or asset.

Inflation

The speed at which prices for general goods and services go up, resulting in a decline in how much money can buy.