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 90 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 90 percent of world trade is accurate. The WTO is a permanent institution, not a temporary one (option A). While the WTO does set rules governing trade between its members, it also applies these rules to non-members (option C). The WTO dispute settlement mechanism produces binding decisions, not non-binding recommendations (option D). Finally, the WTO is not a UN agency, but rather an independent international organization (option E).

Which of the Following Statements About the World Trade Organization