The agreement between the U.S., the Dominican Republic and five small Central American countries that will eventually eliminate tariffs among all seven nations is called
A. NAFTA.
B. CAFTA.
C. Mercosur.
D. GATT.
B. CAFTA.
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Which of the following events will increase short-run aggregate supply?
A) an advance in technology B) an increase in resource prices C) an increase in the natural unemployment rate D) an increase in foreign income
Refer to Table 19-19. Given the information above, calculate the GDP deflator in 2015
A) 87 B) 95 C) 105 D) 114
Give an example of two products that are complements. Explain why they are complements.
What will be an ideal response?
Fernando allocates his lunch money between pizza and Coke. A slice of pizza costs $1.50 and a can of Coke costs $1. The marginal utility of the last slice of pizza Fernando ate that day was 30 units, and the marginal utility of the last can of Coke was 25 units. If Fernando decides to spend all of his lunch money, then identify the correct statement
a. ?Fernando could have increased his total utility by purchasing more Coke and the same quantity of pizza. b. ?Fernando could have increased his total utility by purchasing more pizza and the same quantity of Coke. c. ?Fernando allocates his money so as to maximize his total utility. d. ?Fernando's total utility would have been greater if he had purchased more pizza and less Coke. e. ?Fernando's total utility would have been greater if he had purchased more Coke and less pizza.