Which of the following countries is not a member of NAFTA?
A) Canada.
B) The United States of America.
C) Mexico.
D) All three countries form part of NAFTA.
D
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In a simple economy without government or the foreign sector, saving must equal investment because output is divided into consumption and investment, and income is either consumed or saved
Indicate whether the statement is true or false
Assume a small nation has the following statistics: its consumption expenditure is $15 million, investment is $2 million, government purchases of goods and services is $1 million, exports of goods and services to foreigners is $1 million, and imports
of goods and services from foreigners is $1.5 million. Calculate this nation's GDP.
Under representative democracy,
a. the median voter's preferences are always satisfied b. citizens no longer have any influence since they do not vote on each issue c. representatives may reflect the preferences of the median voter d. less vote trading will occur than under direct voting e. vote trading is impossible
All actions and purchases, even those of wealthy people, involve a sacrifice
a. True b. False Indicate whether the statement is true or false