Which of the following has been an outcome of the North American Free Trade Agreement (NAFTA)?
A. A lower standard of living in Canada, Mexico, and the United States.
B. Lower wages in the United States and Canada.
C. Increased trade among Canada, Mexico, and the United States.
D. Lower wages and reduced employment in Mexico.
C. Increased trade among Canada, Mexico, and the United States.
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At the midpoint of a straight-line demand curve, the price elasticity of demand is:
A. greater than one. B. zero. C. less than one. D. equal to one.
Higher energy prices can be used to adequately explain the productivity slowdown in
a. the United States and the rest of the world. b. the United States but not the rest of the world. c. the rest of the world but not the United States. d. neither the United States nor the rest of the world.
Which statement is true?
A. The average workweek is about 50 percent lower than it was in 1900. B. The average workweek is about the same as it was in 1900. C. Most Americans work more hours per year than do most Western Europeans. D. Most American workers work less hours than workers in other industrialized countries.
Allocative efficiency best explains ________, and productive efficiency best explains ________
A) how something will be produced; when something will be produced B) when something will be produced; why something will be produced C) why something will be produced; what will be produced D) what will be produced; how something will be produced