The General Agreement on Tariffs and Trade (GATT) was established in
a. 1870 to protect U.S. industries and decrease world trade
b. 1921 to manage legal and accounting requirements for U.S. tariffs and quotas
c. 1947 to reduce trade restrictions among 23 countries
d. 1973 to increase trade restrictions, after OPEC significantly raised oil prices
e. 1990 to create a common market
C
You might also like to view...
Assuming price elasticity of demand is reported as an absolute value, a price elasticity of demand greater than one indicates demand:
A. for the good is elastic. B. for the good is inelastic. C. for the good is unitary elastic. D. cannot be determined without more information.
The interest-adjusted value of past payments is
A. present value. B. future value. C. real value. D. intrinsic value.
Refer to the information provided in Figure 5.7 below to answer the question(s) that follow.
Figure 5.7The above figure represents the market for pumpkins both before and after the imposition of an excise tax, which is represented by the shift of the supply curve.Refer to Figure 5.7. Had the demand for pumpkins been perfectly inelastic at Point A, the amount customers would have paid per pumpkin after the imposition of this tax would have been
A. $0. B. $5.50. C. $7.25. D. $8.50.
The proponents of rational expectations and monetarism think that the Federal Reserve should adopt
A) a constant monetary growth rule. B) an interest rate target. C) a monetary aggregate target. D) an inflation target.