Which of the following is a treaty to eliminate all trade barriers between Canada, Mexico, and the United States?
(A) MERCOSUR
(B) NAFTA
(C) CARICOM
(D) APEC
Ans: (B) NAFTA
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In the presence of heteroskedasticity, and assuming that the usual least squares assumptions hold, the OLS estimator is
A) efficient. B) BLUE. C) unbiased and consistent. D) unbiased but not consistent.
How should a natural monopoly be regulated under the social interest theory of regulation?
A) by setting price equal to the average cost of production B) by allowing a price that maximizes the profit of the natural monopoly C) by using a marginal cost pricing rule D) by subsidizing other producers to compete with the monopoly E) by using rate of return regulation
Which of the following is not an example of crowding out?
A) Government purchases rise, the budget deficit rises, the federal government's demand for loanable funds rises, the interest rate rises, and investment falls. B) Government spends more on X, prompting individuals to spend less on X. C) Taxes decline, the budget deficit rises, the federal government's demand for loanable funds rises, the interest rate rises, the demand rises for U.S. dollars, the dollar appreciates, and net exports decline. D) Business firms spend more on X, prompting households to spend less on Y. E) none of the above
Open-market operations generally involve the purchase and sales of
A. government securities. B. stocks and bonds. C. coins and currency. D. Federal Reserve notes.