The arrival of _______ goods creates problems with respect to the accuracy of measuring inflation and how the cost of living has changed over time.

An increase in supply, with no change in demand, will lead to ______ _ in equilibrium quantity and ________ in equilibrium price.

A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease

In 1995 ________, which was established in 1948, was replaced by ________

A) NAFTA; the Smoot-Hawley Tariff B) the WTO; NAFTA C) the GATT; the WTO D) the Smoot-Hawley Tariff; the GATT