Schemes Are

question 6

Multiple Choice

Schemes are

• A) problems in thought processes.
• B) mental abilities that involve speed of analyzing.
• C) mental structures for organizing and interpreting information.
• D) the way we think about social institutions.

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Definitions:

GATT

The General Agreement on Tariffs and Trade, an international treaty that aimed to reduce tariffs and other trade barriers; precursor to the World Trade Organization.

Economists

Experts in the study of economics, focusing on the distribution, consumption, and production of goods and services.

Net Exports

The value of a country's total exports minus its total imports; a positive value indicates a trade surplus, while a negative value indicates a trade deficit.

Gross Savings

The total amount of savings generated within an economy, including personal, business, and government savings, before accounting for depreciation.