Overall NAFTA has resulted in
A. Very little change in any of the three countries.
B. Massive unemployment and recessions.
C. Increased economic growth and employment in Mexico at the expense of the United States.
D. Accelerated economic growth and reduced inflationary pressures in Canada, Mexico, and the United States.
Answer: D
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The current exchange rate system for most currencies is described most accurately as one of
a. fixed exchange rates. b. freely flexible exchange rates. c. gold standard rates. d. dirty or managed floating.
Refer to Table 5.1, which shows Madeline's preference ranking for various consumption bundles of bread and soup, where 1 represents her first choice, 2 her second, and so on. If the price of soup is $3 per bowl, the price of bread is $3 per loaf and Madeline's income is $9 per day, which combination of bread and soup will she choose?
A. 2 loaves of bread and 1 bowl of soup
B. 1 loaf of bread and 2 bowls of soup
C. 3 loaves of bread and 0 bowls of soup
D. 0 loaves of bread and 3 bowls of soup
The maximum amount of other goods and services that people are willing to give up in order to get one more unit of a good is defined as the good's
A) marginal benefit. B) total benefit. C) marginal cost. D) total cost. E) price.
If the term structure of interest rates in two countries differ, the differences reflect
A) expected price levels over time. B) expected GDP differences. C) the absence of covered interest arbitrage. D) expected exchange rate changes over time.