An important outcome of the Uruguay Round of GATT negotiations was:
A. a worldwide reduction of agricultural export subsidies.
B. establishment of the European Union.
C. the elimination of all tariffs and quotas worldwide.
D. establishment of the World Bank.
A. a worldwide reduction of agricultural export subsidies.
Economics
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What is the difference between a price ceiling and a price floor? Compared to the competitive equilibrium price, where must price ceilings and price floors be set to have an effect on the market
What will be an ideal response?
Economics
When supply-side policy is successful in pushing up equilibrium real Gross Domestic Product (GDP), the reason is that the policy generates
A) a decrease in aggregate demand. B) an increase in aggregate supply. C) a decrease in employment. D) a decrease in saving.
Economics