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Currently Eight Nations Compose a Summit of the Most Powerful

question 70

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Currently eight nations compose a summit of the most powerful nations in the world, known as the G8. The last nation to be admitted to this group was ________, and the nation wanting to be added to it, forming the G9, is ________.


Definitions:

Unit Cost

The expenditure a business incurs in the production, storage, and distribution of an individual unit of a certain product or service.

Deadweight Loss

A loss of economic efficiency that occurs when the optimal quantity of a good is not produced.

Tax

A compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

European Countries

Nations located on the continent of Europe, known for diverse cultures, languages, and economies.

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