he World Trade Organization (WTO) was built on the basis of the General Agreement on Tariffs and Trade (GATT) and, thus, inherited many of its features. Still, the WTO proved to be a very distinct institution. Indicate whether each property in the following table is a unique property of the WTO compared to GATT.

Enforces binding commitments Yes or No

Oversees tariff cuts and reduction of nontariff measures Yes or No

Limits participation to a few nations Yes or No

Acts as a government Yes or No

Enforces dispute settlements Yes or No

According to the most favored nation clause (Article I of GATT), which of the following is true?

A.) If a country imposes higher tariffs on one trading partner, then those high tariffs must be imposed on all its trading partners belonging to the WTO.

B.) If a country gives a trade advantage to one partner, then this advantage must be extended to all its trading partners belonging to the WTO.

C.) Tariffs on products imported from countries belonging to the WTO must be lower than tariffs on the same products imported from countries that are not members of the WTO.

D.) A country can lower tariffs on imports from countries with most favored nation trading status without changing tariffs on imports from other members of the WTO.