According to the textbook, NAFTA was expected to help which country exploit its comparative advantage in the production of goods made by unskilled labor?
A. Cuba
B. Mexico
C. Canada
D. The USA
Answer: B
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A measure of overall prices at a particular point in time is called:
A. inflation. B. a relative price. C. the price level. D. a real price.
The coordination failure model is based on the possibility of increasing returns to scale
A) both at the aggregate level and at the level of the individual firm. B) at the aggregate level, but not at the level of the individual firm. C) at the level of the individual firm, but not at the aggregate level. D) in future periods, but not in the current period.
Assume that the central bank purchases government securities in the open market. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and current international transactions in the context of the Three-Sector-Model?
a. The quantity of real loanable funds per time period rises, and current international transactions become more negative (or less positive). b. The quantity of real loanable funds per time period falls, and current international transactions become more negative (or less positive). c. There is not enough information to determine what happens to these two macroeconomic variables. d. The quantity of real loanable funds per time period and current international transactions remain the same. e. The quantity of real loanable funds per time period rises, and current international transactions become more positive (or less negative).
A private agreement to reduce pollution becomes harder when ______.
a. both parties are fully informed on the effects of the deal b. ownership of property rights is clearly determined c. the number of involved parties increases d. the public can be excluded from enjoying the benefits