The two most important institutions that monitor international trade policies are _____.
A) NAFTA (North American Free Trade Association) and the World Bank
B) the World Bank and the EU (European Union)
C) GATT (General Agreement on Tariffs and Trade) and WTO (World Trade Organization)
D) WTO (World Trade Organization) and NAFTA (North American Free Trade Association)

Question

Quizplus · Accepted Answer

GATT (General Agreement on Tariffs and Trade) and WTO (World Trade Organization) are the two most important institutions that monitor international trade policies. GATT was established in 1947 and focused on reducing tariffs and promoting free trade. It was replaced by the WTO in 1995, which addresses a wider range of trade issues including intellectual property rights, services, and investment. These two institutions work together to develop and enforce international trade rules and regulations. The other options listed are either regional organizations or financial institutions that may be involved in trade, but do not have the same level of authority over international trade policies.

The Two Most Important Institutions That Monitor International Trade Policies