Which of the following statements about the World Trade Organization (WTO) is most accurate?
A)The World Trade Organization was formed in 2008 to response to the global recession.
B)There are 160 WTO member countries, including the United States, which account for more than 90 percent of world trade.
C)The WTO sets rules governing trade between member and nonmember countries of the world.
D)The WTO uses panels of trade experts who can issue nonbinding recommendations.
E)The WTO was formed by the United Nations.

Question

Quizplus · Accepted Answer

The statement that there are 160 WTO member countries, including the United States, which account for more than 90 percent of world trade is the most accurate. The WTO was actually formed in 1995, and it sets rules governing trade between member and nonmember countries. The WTO does use panels of trade experts, but their recommendations can be binding. Finally, the WTO is not part of the United Nations, but it does have formal ties with the UN.

Which of the Following Statements About the World Trade Organization