Which of the Following Indicates the Difference Between GATT and WTO

question 4

Multiple Choice

Which of the following indicates the difference between GATT and WTO?

• A)WTO has strict time limits unlike GATT.
• B)WTO operates on the basis of consensus unlike GATT.
• C)GATT gives trading partners the right to compensation or,in the last resort,to impose (commensurate)trade sanctions unlike WTO.
• D)GATT's verdict is binding unlike that of WTO's.
• E)WTO allows member-countries to block adoption of arbitration reports unlike GATT.

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Definitions:

Ethical Standards

Guidelines that dictate the conduct deemed acceptable and moral within a profession or organization.

Moral Wrongdoing

Actions or behaviors that are considered unethical or immoral based on societal or personal moral standards.

Diversity

The inclusion of individuals representing more than one national origin, color, religion, socioeconomic stratum, sexual orientation, etc., to enrich a community or organization.

Ethical Pluralism

The belief that there are multiple ethical principles which can be valid, but might come into conflict in certain situations, requiring a balance or choice to be made.