Which of the following is NOT a reason Mexico and Canada wanted a free trade agreement with the United States?
A) Mexico wanted increased direct foreign investment.
B) Canada wanted to guarantee access to the U.S. market.
C) Mexico wanted the United States to lower its high barriers to Mexican products.
D) Canada wanted its firms to become more globally competitive.
E) Mexico wanted to institutionalize its economic reforms.
C
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The GDP price index can be interpreted as
A) (nominal GDP - real GDP) ÷ 100. B) (real GDP ÷ nominal GDP) × 100. C) (real GDP - nominal GDP) ÷ 100. D) (nominal GDP + real GDP) ÷ 100. E) (nominal GDP ÷ real GDP) × 100.
New Keynesian explanations for sticky prices and wages include
a. menu costs. b. efficiency wages. c. insider-outsider distinctions. d. productivity shocks. e. all but d.
A recessionary gap exists when aggregate demand is above the full employment level of output
a. True b. False Indicate whether the statement is true or false
As the marginal propensity to consume (MPC) increases, the spending multiplier
a. increases. b. decreases. c. remains constant. d. becomes indefinable.