In 1995 ________, which was established in 1948, was replaced by ________
A) the GATT; the WTO
B) the WTO; NAFTA
C) the Smoot-Hawley Tariff; the GATT
D) NAFTA; the Smoot-Hawley Tariff
Answer: A
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A single-payer system, in which the government pays for all medical expenses for everyone, would eliminate all of the following problems EXCEPT the
A. uncertainty problem. B. third-party payer problem. C. adverse selection problem. D. poverty problem.
The aggregate price level is:
A. a measure of the average price level for GDP. B. measured by the GDP price deflator. C. measured by the CPI. D. All of these statements are true.
In which of the following instances is the effect on equilibrium price (whether it rises, falls, or remains unchanged) dependent on the magnitude of the shifts in supply and demand?
What will be an ideal response?
The graph shown portrays a subsidy to buyers. The subsidy causes:
A. 50 more units to be sold in this market.
B. 150 more units to be sold in this market.
C. 100 fewer units to be sold in this market.
D. 50 fewer units to be sold in this market.