Which of the Following Statements About the World Trade Organization

question 31

Multiple Choice

Which of the following statements about the World Trade Organization (WTO) is most accurate?

• A)The World Trade organization is a temporary institution.
• B)The 153 member countries of the WTO account for more than 97 percent of world trade.
• C)The WTO sets rules governing trade between its members and the remainder of the world.
• D)The WTO uses panels of trade experts who can issue non-binding recommendations.
• E)The WTO was formed by the United Nations.

---

Definitions:

Profit-Maximizing

The method through which a company identifies the pricing and production quantity that maximizes its profits.

Interest Rate

The percentage charged on the total amount of borrowed money or paid on deposited funds over a specific period.

Investment Project

A project involving the commitment of resources with the expectation of generating future returns or benefits.

Market Price

This term refers to the actual selling price of goods or services in the marketplace at any given time.