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AD VALOREM TAX: A tax that is specified as a percentage of value. Sales, income, and property taxes are three of the more popular ad valorem taxes devised by government. The total ad valorem tax paid increases with the value of what's being taxed.
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WORLD TRADE ORGANIZATION: An international organization that oversees multilateral trade among nations. The World Trade Organization, or WTO, was established in 1995 by the Uruguay round of trade negotiations to replace the General Agreement on Tariffs and Trade (GATT) that had been in place for the preceding five decades. The WTO administers multilateral trade agreements, provides a forum for trade negotiations, handles trade disputes, monitors national trade policies, and provides technical assistance and training for developing countries. The WTO has about 150 member countries. See also | foreign trade | General Agreement on Tariffs and Trade | multilateral | tariff | trade barriers | International Monetary Fund | World Bank | North American Free Trade Agreement | trading bloc | unilateral | Uruguay round |
Recommended Citation:WORLD TRADE ORGANIZATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: April 3, 2025].
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AVERAGE REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between average revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopolistically competitive firm's output.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for high interest rates.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average." -- President Franklin Delano Roosevelt
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CA
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