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)By mid-2013, there were 159 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 non-binding recommendations.
E)The WTO was formed by the United Nations.

Question

Quizplus · Accepted Answer

The statement that by mid-2013 there were 159 WTO member countries, including the United States, which account for more than 90 percent of world trade, is the most accurate statement. The other statements contain inaccuracies: A) The WTO was actually formed in 1995, before the global recession of 2008. C) While the WTO sets rules governing trade between member countries, it does not have direct authority over nonmember countries. D) Panels of trade experts convened by the WTO can issue binding recommendations, not non-binding ones. E) The WTO was not formed by the United Nations, although it does work closely with the UN.

Which of the Following Statements About the World Trade Organization