The idea of the U.S.-Canadian Free-Trade Agreement that removed all barriers to trade including tariffs and quotas between the United States and Canada by 1998 was to
A. increase the price of U.S. goods sold in Canada.
B. increase the amount that the United States exports to Canada and the amount that the United States imports from Canada.
C. increase the price of Canadian goods sold in the United States.
D. increase the amount that the United States exports to Canada and decrease the amount that the United States imports from Canada.
Answer: B
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The following table shows Alex's estimated annual benefits of holding different amounts of money.Average moneyholdings($)Total benefit($)700508005990066100071110074How much money will Alex hold if the nominal interest rate is 4 percent? (Assume she wants her money holdings to be in multiples of $100.)
A. $800 B. $700 C. $900 D. $1,000
Keynes reasoned that consumer expenditure is most closely related to
A) the level of interest rates. B) the price level. C) disposable income. D) the marginal tax rate.
Define the following terms and explain their importance to the study of macroeconomics:
a. velocity b. equation of exchange c. monetarism d. automatic stabilizer
Why do major-league baseball players get paid more than minor-league players?
a. Major-league players are better athletes. b. The higher wage reflects a compensating differential. c. Playing in the major leagues in more pleasant then playing in the minor leagues. d. The higher wage is often due to educational discrepancies.