Which of the following statements about the World Trade Organization (WTO) is most accurate?
A)The WTO is an institution that sets rules governing trade between its members.
B)The WTO acts as an agent in trade negotiations between its members and the remainder of the world.
C)The 183 member countries of the WTO account for approximately 55 percent of world trade.
D)The WTO uses panels of trade experts who issue nonbinding recommendations.
E)The WTO was formed by the United Nations.

Question

Quizplus · Accepted Answer

The most accurate statement about the WTO is that it is an institution that sets rules governing trade between its members. While the WTO does facilitate trade negotiations between its members and the rest of the world, it is not an agent in these negotiations. The WTO also represents more than 98 percent of world trade, not just 55 percent as stated in option C. The WTO panels do issue nonbinding recommendations, as stated in option D. Finally, while the United Nations does work closely with the WTO, it did not form the organization.

Which of the Following Statements About the World Trade Organization