ECONOMICS
ECONOMIC INSTITUTIONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dispute Settlement Body
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Council of trade in goods
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Exchange Rate Management Body
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Trade Policy Review Body
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Detailed explanation-1: -Which of the following body is not related to the WTO? Explanation: Exchange Rate Management Body is not associated with the WTO while other bodies are closely related to the WTO. 9. Which of the followings are called Brettonwoods Twins?
Detailed explanation-2: -The important bodies of the World Trade Organization (WTO) are Dispute settlement bodies, trade policy review body, council for trade in goods, council for trade related aspects of intellectual property rights.
Detailed explanation-3: -WTO stands for World Trade Organization. It functions to regulate international trade. It does not help to settle border disputes of member countries.
Detailed explanation-4: -To facilitate the expansion and balanced growth of international trade is a function of IMF not WTO.
Detailed explanation-5: -India committed to reduce duties on agricultural products with a few exceptions by 100 to 300 percent. No commitments were, however, made in respect of market-access and reduction of subsidies.