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
Economics
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The minimum level of net investment necessary to maintain the stock of capital depends on
A) the rate of interest and the size of the capital stock. B) the rate of depreciation and the size of the capital stock. C) the corporate profits tax and the interest rate. D) business confidence and the corporate profits tax.
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In order to ensure allocative efficiency on the part of a natural monopoly, regulators would set price equal to marginal cost
a. True b. False
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