Each country in NAFTA sets its own tariffs to the rest of the world.
a. true
b. false
a. true
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Physical capital is:
A. the stock of equipment and structures that allow for the production of goods and services. B. the skills a human being acquires that enhances the available stock of equipment. C. the set of skills, knowledge, experience, and talent that determine the productivity of workers. D. All of these describe physical capital.
If the average variable cost of a firm is falling, then the:
a. average fixed cost must be rising. b. marginal cost must be falling. c. marginal cost must be rising. d. marginal cost lies below the average variable cost. e. marginal cost lies above the average variable cost.
Compensating differentials are differences in wages related to the characteristics of a job
a. True b. False Indicate whether the statement is true or false
The real rate of interest equals 4% and the expected rate of inflation equals 2%. The nominal rate of interest equals
A. 6%. B. -1%. C. 2%. D. 3%.