Title: GATT and the WTO
Course: Demo 1

Q: Pertaining to international trade, the acronym GATT stands for:
- Georgia Affiliation of Timed Transit
- Global Agency of Textile Trade
- General Agreement on Tariffs and Trade
A: General Agreement on Tariffs and Trade

Q: In 1947, twenty-three countries agreed to a series of rules concerning trade that became:
- the United Nations.
- the International Monetary Fund.
- the General Agreement on Tariffs and Trade.
A: the General Agreement on Tariffs and Trade.

Q: Pertaining to international trade, the acronym WTO stands for:
- Working Trade Organization
- World Transaction Operations
- World Trade Organization
A: World Trade Organization

Q: When it was formed the World Trade organization absorbed:
- the IMF
- the World Bank
- all of GATT’s agreements
A: all of GATT’s agreements

Q: All of GATT’s agreements were absorbed by:
- the IMF
- the World Bank
- the WTO
A: the WTO

Q: The World Trade organization is different from GATT in that it:
- the WTO is an institution charged with expanding free trade
- the WTO has a larger mission that expands the agreements of GATT
- the WTO has a smaller role, with fewer international agreements
A: the WTO is an institution charged with expanding free trade; the WTO has a larger mission that expands the agreements of GATT

Q: GATT is different from the World Trade Organization in that:
- GATT is a series of agreements and the WTO is an institution
- GATT expanded global trade through reduction of trade barriers while the WTO has a broader mission
- the purpose of GATT is to enforce complex bilateral trade agreements
A: GATT is a series of agreements and the WTO is an institution; GATT expanded global trade through reduction of trade barriers while the WTO has a broader mission