Which round of GATT led to the formation of the WTO?

To achieve gains from trade, a country

A) needs to have an absolute advantage in the production of all goods. B) specializes in the producing a good in which it has a lower opportunity cost. C) must produce at a point beyond its PPF. D) needs to have an absolute advantage in the production of at least one good. E) should produce at the midpoint of its PPF.

An exchange rate is the price of one country's currency in terms of another country's currency

Indicate whether the statement is true or false