Which of the Following Statements About the World Trade Organization

question 23

Multiple Choice

Which of the following statements about the World Trade Organization is incorrect?

• A) The World Trade Organization was founded in 1995.
• B) The World Trade Organization is a forum for enforcing international rules promoting free trade.
• C) The United States dropped out of the World Trade Organization in 2004 over a disagreement about steel tariffs.
• D) The World Trade Organization has had multiple controversies over agricultural subsidies.
• E) The World Trade Organization grew out of the General Agreement on Tariffs and Trade.

---

Definitions:

Bank Liabilities

Financial obligations owed by a bank to its depositors, creditors, and other parties.

Bank Assets

Resources owned by a bank, including loans, securities, cash, and property, that have economic value and can be used to meet its liabilities.

Mad Money

Extra money reserved for spontaneous expenses or for small luxuries, often used more liberally.

Economic Booms

Periods of rapid economic growth and expansion, characterized by increased production, employment, and consumer spending.