Nafta:

A. has increased the standard of living in the North African member nations.
B. benefits workers in the participating nations but hurts consumers by raising prices.
C. allows completely unrestricted movement of goods, services, and resources between the
member nations.
D. has reduced most trade barriers between Canada, Mexico, and the United States.


D. has reduced most trade barriers between Canada, Mexico, and the United States.

Economics

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The equilibrium price and quantity in a monopoly market:

A. is efficient. B. is the same as a perfectly competitive market. C. causes a loss of total surplus. D. causes no welfare costs.

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If a price ceiling is to be effective, it should be set

A. Below the equilibrium price, and it will create a market surplus. B. Above the equilibrium price, and it will create a market shortage. C. Above the equilibrium price, and it will create a market surplus. D. Below the equilibrium price, and it will create a market shortage.

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An Internet site that maintains a database of product reviews that anyone can access and that has advertisement banners is:

A. a government provided public good. B. a privately provided public good. C. a private good. D. a privately provided collective good.

Economics