Ch7 Quiz

Which statement is NOT true about the World Trade Organization (WTO)?

The WTO is a direct enforcer of trade agreements.

All of the following factors are likely to increase the amount of trade between two countries EXCEPT:

two countries are separated by a mountain range.

Voting rights in the IMF are determined on the basis of:

Proportion to contributions given by each country.

The following institutions grew out of the Bretton Woods conference held in 1944:

The IMF and the WTO.

The organization that oversees global trade negotiations and settles trade disputes among its members is the:

World Trade Organization.

The IMF provides all of the following EXCEPT:

a depository for a nation's excess funds.

The WTO is guided by all of the following principles EXCEPT:

facilitate nations in charging different tariffs to each trade partner.

The original mission of the World Bank was to

finance post-World War II reconstruction.

The GATT originally served to

reduce tariffs among member nations.

In modern times the World Bank's primary purpose is ____, whereas the IMF's primary purpose is____.

to aid nations with economic development; to help nations maintain stable economies.