Which of the following has resulted from the North American Free Trade Agreement (NAFTA)?
a. trade between the United States and Mexico increased.
b. trade between the United States and Canada increased.
c. the joint output of the United States, Mexico, and Canada has increased.
d. all of the above are correct.
D
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Which of the following observations is not true?
a. Money is divisible. b. The value of money never remains the same. c. Money has an intrinsic value. d. Money is the most liquid form of asset.
Which statement is false?
A. American chief executive officers (CEOs) earn on average more than 400 times the salary of the average production worker. B. The effects of globalization has depressed American wage. C. Hourly wages and fringe benefits in the U.S. are the lowest of any industrial country. D. None of the statements are false.
Which of the following is not an assumption of perfectly competitive markets?
A) There are many sellers and many buyers, all of which are small relative to the market. B) Each firm produces a similar but not identical product. C) There are no barriers to new firms entering the market. D) The products sold by all firms in the market are identical.
Why do historians argue that there was a mixture of enterprise, partly private and partly governmental, in building our transportation system?
(a) Private individuals took the initiative and were able to extract special privileges and financial assistance from government for the purpose of enhancing their profits. (b) Political leaders, who wanted transportation improvement for reasons of local or national ambition, took the initiative and coaxed private enterprise into building the transportation system by the offer of special financial advantages. (c) The sheer size of the investment required for a transportation system was beyond the capability of private enterprise alone. (d) All of the above ideas have been used by historians to explain the mixture of enterprise in building our transportation system.