The infamous "bridge to nowhere" was tucked into emergency spending intended for
A. rebuilding after Hurricane Katrina.
B. the new lunar landing mission.
C. the war in Iraq.
D. elimination of Medicare entitlements.
Answer: A
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The M2 measure of the money supply equals
A) M1 plus savings account balances plus small-denomination time deposits. B) savings account balances plus small-denomination time deposits plus traveler's checks. C) M1 plus savings account balances plus small-denomination time deposits plus noninstitutional money market fund shares. D) savings account balances plus small-denomination time deposits plus noninstitutional money market fund shares.
In 1995, the General Agreement on Tariffs and Trade (GATT), which was established in 1948, was replaced by the World Trade Organization (WTO). Why did members of the GATT push for the establishment of the WTO?
A) The GATT agreement only covered trade in goods. The WTO was created to cover trade in goods, services, and intellectual property. B) By 1995 tariffs had been eliminated. The WTO was created to reduce non-tariff trade barriers. C) The charter of the GATT had run out and a new organization was needed to promote international trade. D) The creation of the European Union (EU) made the GATT obsolete. The WTO was formed to regulate trade between the EU and other nations.