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 less than 25 percent of world trade.
C) The WTO sets rules governing trade among its members.
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 most accurate statement is that the WTO sets rules governing trade among its members. The WTO is a permanent institution, not a temporary one (option A), and its member countries account for more than 98% of world trade, making option B incorrect. The WTO uses dispute settlement panels, not just panels of trade experts, and their recommendations are binding, making option D incorrect. Finally, the WTO is not a part of the United Nations, so option E is also incorrect.

Which of the Following Statements About the World Trade Organization