What Are the Roles of the IMF and the WTO

question 32

Essay

What are the roles of the IMF and the WTO in encouraging, monitoring, and regulating international trade?

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Definitions:

Natural Monopolies

Industries where a single firm can provide a good or service at a lower cost than any potential competitor, often due to high infrastructure or barrier to entry costs.

Price Stability

The economic condition in which prices in the economy do not change significantly in either direction and remain relatively stable.

Government Transfer Program

Programs through which governments redistribute income, typically from taxpayers to individuals in need, such as welfare, social security, and unemployment benefits.

Unemployment Compensation

Financial payments made to individuals who have lost their jobs until they find new employment, provided by the government or insurance programs.