Which of the following is FALSE?
A) A common market is more deeply integrated than an economic union.
B) NAFTA is an example of a free trade area.
C) The European Union is a deeper form of integration than NAFTA.
D) Common markets allow for labor mobility between participating nations.
A
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Refer to the figure below. A decrease in supply is represented by a shift from: 
A. curve D to curve C. B. curve A to curve B. C. curve C to curve D. D. curve B to curve A.
A marginal cost curve
A) is upward sloping. B) shows that as more of a good is produced, opportunity costs of producing another unit increase. C) is bowed inward so that its slope can become negative. D) Both answers A and B are correct.
Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one of the tickets is $20
A) only Violet and Walter will buy tickets. B) everyone will buy a ticket except for Zachary. C) the total consumer surplus from the purchase of tickets will be $122. D) Xavier's consumer surplus is $50.
Refer to the table below. If the senior manager learns that either a Good or Fair market will exist when the drug is introduced to the market, which drug should the senior manager not pursue?
The senior manager of Rx Pharmaceuticals needs to decide which of three drugs the company should consider developing. The estimated profit for each of the drugs differs depending on the market conditions when the respective drugs are introduced to the market. The above table summarizes the estimated profit for each drug under each of the three market conditions; Good, Fair, and Poor.
A) Drug A
B) Drug B
C) Drug C
D) none of the drugs