Which of the following statements about the World Trade Organization (WTO) is most accurate?
A)The World Trade organization is a temporary institution.
B)The 153 member countries of the WTO account for more than 97 percent of world trade.
C)The WTO sets rules governing trade between its members and the remainder of the world.
D)The WTO uses panels of trade experts who can issue non-binding recommendations.
E)The WTO was formed by the United Nations.

Question

Quizplus · Accepted Answer

The statement that the 153 member countries of the WTO account for more than 97 percent of world trade is the most accurate. Option A is incorrect as the WTO is a permanent institution. Option C is partly correct, but the WTO also negotiates new trade agreements, provides a platform for trade negotiations, and provides technical assistance to developing countries. Option D is incorrect as the recommendations issued by the panels are binding. Option E is incorrect as the WTO was created as a result of the Uruguay Round of trade negotiations and is independent of the United Nations.

Which of the Following Statements About the World Trade Organization