Under NAFTA, environmental standards are
A) harmonized around Mexican rules.
B) harmonized around U.S. rules.
C) harmonized around Canadian rules.
D) harmonized around a combination of the rules in all three countries.
E) not harmonized.
E
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Economic theory shows that the current account deficit is always equal to the capital account surplus. This means that
a. the federal budget must always be in balance. b. when a country exports more goods and services than it imports, it also imports assets equal to the difference. c. current account deficits should be avoided. d. trade deficits tend to be eliminated automatically.
What is NOT used in the calculation of GDP (expenditure model)?
a. the value of factories built during the year b. US citizen purchases automobiles made in Germany c. the value of US corporate stocks purchased by US investors d. the value of the decline in US business inventories
Asymmetric information is
A) when a market failure occurs. B) an externality. C) when the producer has information on the product that the consumer lacks. D) the regulatory price for a natural monopoly.
The demand curve for the product of a monopolistic competitor
A) is the same as the market demand curve. B) is horizontal. C) is vertical. D) slopes downward.