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GATT: The abbreviation for the General Agreement on Tariffs and Trade. A treaty, signed in 1947 by 23 countries including the United States, that was designed to reduce trade barriers. It now carries the signatures of about 100 countries and over the years has been pretty darn effective in reducing tariffs, eliminating some import quotas, and promoting commerce.
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GOVERNMENT EXPENDITURES Spending by the government sector including both the purchase of final goods and services, or gross domestic product, and transfer payments. Government expenditures are used by the government sector to undertake key functions, such as national defense and education. These expenditures are financed with a combination of taxes and borrowing.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Love looks through a telescope; envy, through a microscope. " -- Josh Billings, humorist
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AEC
Annual Equivalent Costs
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