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 nonmenber 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

By mid-2013, there were 159 WTO member countries, including the United States, which account for more than 90 percent of world trade. This statement accurately describes the membership and significance of the WTO, which was established in 1995 to promote free trade and resolve trade disputes between countries. The other statements are incorrect: A) the WTO was not formed in 2008, B) the WTO sets rules governing trade between its member countries only, not nonmember countries, C) The WTO uses panels of trade experts who can issue binding recommendations, not non-binding ones, and E) the WTO was not formed by the United Nations, although it works closely with the UN and other international organizations.

Which of the Following Statements About the World Trade Organization