Which of the Following Is a Difference Between the General

question 9

Multiple Choice

Which of the following is a difference between the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) ?

• A)GATT was involved only in merchandise trade,while the WTO covers services and trade-related aspects of intellectual property.
• B)GATT was involved in settling disputes in a fast way,while the WTO relies on voluntary cooperation.
• C)GATT was developed to support Mexico's efforts to become more market oriented,while the WTO aims to launch new provisions against dumping.
• D)GATT resolved more trade disputes in its first decade,while the WTO is susceptible to blockage.
• E)GATT was the institutional foundation for world trade,while WTO is a multilateral agreement with no institutional foundation.

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Definitions:

Decision Making

The cognitive process resulting in the selection of a belief or a course of action among several possible alternatives.

Emotional Changes

Variations in feelings and emotions that occur due to various factors, including age, environmental influences, and personal experiences.

Cognitive Changes

Alterations in mental processes such as perception, memory, and problem-solving that occur as part of the aging process, development, or in response to external factors.

Adolescence

A developmental phase following childhood, marked by physical, psychological, and social changes leading to adulthood.