Question

3. Mark each of the following statements, regarding the WTO, as true or false. If false, correct the statement. a. ______ The WTO was formed by countries that conduct the majority of international trade. b. ______ The WTO seeks to increase import quotas and reduce import and export tariffs. c. ______ The WTO seeks to eliminate restrictions on the flow of money between countries. d. ______ Though it can hear accusations, the WTO cannot order remedies

Answer 1

Answer:

a. True.

b. False.

c. True.

d. False.

Explanation:

The world trade organization (WTO) is an intergovernmental organization that set rules, policies and regulates global trade across the world. It is an international economic organizations that is involved in fostering global economy and trade between countries.

a. True: The WTO was formed by countries that conduct the majority of international trade.

b. False: The WTO seeks to increase import quotas and reduce import and export tariffs. Actually, WTO seeks to eliminate or reduce import quotas and reduce import and export tariffs.

c. True: The WTO seeks to eliminate restrictions on the flow of money between countries.

d. False: Though it can hear accusations, the WTO cannot order remedies. Actually, WTO can both hear accusations and order remedies.