1.Which of the following description of the WTO is correct?

A) A WTO member's most-favored-nation (MFN) tariff rates apply to a group of WTO members that are favored by this country, not all the WTO members.

B) The WTO, just like the World Bank and the International Monetary Fund, have a board of directors that make decisions, such as directly imposing trade sanctions on its member countries.

C) The WTO has a dispute settlement system that rules on dispute between member countries but does not implement any activity by itself.

D) The WTO is located in the United States.