In negotiating NAFTA, what two side agreements were reached?
What will be an ideal response?
The North American Agreements on Labor Cooperation and Environmental Cooperation
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The quantity that sellers wish to sell tends to ________ as price increases, and so the supply curve is ________ sloping.
A. increase; upward B. decrease; downward C. decrease; upward D. increase; downward
The accompanying figure shows Avery's weekly production possibilities curve for scarves.
For Avery, the opportunity cost of making a red scarf is:
A. decreasing. B. 1 blue scarf. C. increasing. D. zero.
Straker Industries estimated its short-run costs using a U-shaped average variable cost function of the formAVC = a + bQ + cQ2and obtained the following results. Total fixed cost (TFC) at Straker Industries is $1,000. 
At what level of output is average variable cost (AVC) at its minimum point for Straker Industries?
A. 7 B. 14 C. 0.14 D. 28 E. 4.7
If the market for a product is broadly defined, then
A) there are many substitutes for the product and the demand for the product is relatively elastic. B) the good has many complements. C) the expenditure on the good is likely to make up a large share of one's budget. D) there are few substitutes for the product and the demand for the product is relatively inelastic.