Which of the following features does a free-trade area necessarily have?

A. Absence of trade barriers among the member nations
B. Harmonization of all economic policies
C. Free movement of factors of production across the member nations
D. Equal tariff rates


Answer: A

Economics

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Aggregate expenditure for the country is A) $5.5 trillion. B) $6.5 trillion. C) $6.0 trillion. D) $8.5 trillion. E) $7.0 trillion.

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Indicate whether the statement is true or false

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Winnie's Car Wash is a perfectly competitive firm. The table above shows Winnie's total product schedule. If the price of a car wash is $4 and the wage rate is $50 per day, how many workers should Winnie employ to maximize his profit?

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The number of times per year a dollar is used to transact an exchange is known as

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Economics