aruzh

What is the primary purpose of the World Trade Organization (WTO)?

• To regulate national economic policies

• To promote and facilitate international trade

• To impose trade sanctions on non-compliant countries

• To monitor domestic markets of member countries

When was the WTO established?

• 1945

• 1995

• 1980

• 2000

Which of the following is a key function of the WTO?

• Setting global tariffs on all goods

• Enforcing international agreements on trade

• Overseeing the distribution of foreign aid

• Approving new trade alliances between countries

Which of the following trade principles is most associated with the WTO?

• Protectionism

• Free trade and non-discrimination

• Quotas on imports

• Export subsidies

What does the "Most Favored Nation" (MFN) principle mean in the WTO context?

• Countries must treat all other WTO members equally in trade agreements

• The WTO allows countries to prioritize their most important trading partners

• Countries can only trade with nations that offer the best economic deals

• Countries can change trade terms based on geopolitical relations

Which of the following is NOT a function of the WTO?

• Facilitating the negotiation of trade agreements

• Settling trade disputes between countries

• Monitoring and reviewing national trade policies

• Imposing mandatory tariffs on all trade

Which of the following agreements is a significant part of the WTO framework?

• The Paris Agreement on climate change

• The General Agreement on Tariffs and Trade (GATT)

• The North American Free Trade Agreement (NAFTA)

• The World Health Organization’s (WHO) regulations

Which of the following is true about the dispute resolution mechanism of the WTO?

• Disputes are handled through a simple negotiation process

• All WTO disputes are resolved by the United Nations

• The WTO has a formal panel to adjudicate trade disputes between member countries

• The WTO only resolves disputes involving intellectual property

How many member countries did the WTO have in 2023?

• 120

• 150

• 164

• 200

Which of the following is a principle of the WTO's trade policy review mechanism?

• Countries must reduce all tariffs to zero

• Each member country’s trade policies are periodically reviewed by other members

• Only large economies are subject to trade policy reviews

• Reviews are based on the most recent annual trade data