The ______________________ which was set up in 1995, was the successor to GATT.
Fill in the blank(s) with the appropriate word(s).
World Trade Organization
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In 1870, the wealthiest fifth of the Southern population:
a. owned about 25 percent of the land. b. had lost most of their land through post-War land reforms. c. owned about the same portion of the land as they had owned before the War. d. generally chose to reduce their investments in land and increase their investments in other assets.
Natural monopolies:
A. are the only monopolies that are efficient. B. can capture the lowest production costs possible for the industry. C. are always protected by government policy. D. generally earn zero accounting profits due to regulations.
GDP is 5 trillion dollars, the price level is $2, money supply is 2 trillion dollars. What is the value of the velocity of money according to the quantity equation?
A. 5 B. 2 (WA) C. 10 D. 8 E. Can't be determined.
In a market, buyers want to pay the ________ possible price and sellers want to charge the ________ possible price.
A. highest, highest B. highest, lowest C. lowest, lowest D. lowest, highest