What is the WTO? What is its role in the world economy?
What will be an ideal response?
The World Trade Organization (WTO) was founded in 1995 . It is headquartered in Geneva, Switzerland, and had 153 member countries in 2010 . Whereas GATT was a set of rules, the WTO is an institutional body. The WTO expanded its scope from traded goods to trade within the service sector and intellectual property rights. Various WTO agreements set the legal ground rules for international commerce to hopefully ensure that the multilateral trading system operates smoothly. They are negotiated and signed by a large majority of the world's trading nations, and the agreements are ratified in the parliaments of the member countries. If there is a trade dispute between countries, the WTO's dispute settlement process helps interpret the agreements and commitments, and it ensures that countries' trade policies conform to them.
You might also like to view...
Organizational development is often put into practice by a
A. catalytic consultant. B. change agent. C. behavioral consultant. D. transformative consultant. E. behavioral agent.
The use of 6:30 A.M. meetings to get a project back on schedule is an example of ________ reinforcement to motivate project performance.
Fill in the blank(s) with the appropriate word(s).
The transactions listed in the following questions occurred in a private, not-for-profit hospital during 20X8. For each transaction, indicate its effect on the hospital's statement of operations for the year ended December 31, 20X8.Transaction: Received tuition revenue from hospital nursing program and cash from sales of goods in the hospital gift shop.Effect on Statement of Operations:
A. The transaction is not reported on the statement of operations. B. Increases operating income. C. The transaction is reported on the statement of operations, but there is no effect on operating income. D. Decreases operating income.
An employee who earns $1.25 per unit has assembled 455 units this pay period. What are the gross earnings of this employee?
a. $568.00 b. $568.75 c. $5,687.50 d. $5,687.00 e. None of the above