The first major international trade agreement following World War II was the North American Free Trade Agreement (NAFTA)
Indicate whether the statement is true or false
FALSE
You might also like to view...
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
In July, market analysts predict that the price of gold will rise in August. What happens in the gold market in July, holding everything else constant?
A) The supply curve shifts to the right. B) The demand curve shifts to the left. C) The quantity demanded and the quantity supplied increase. D) The supply curve shifts to the left.
Joe and Rita each have some cookies and milk. Joe is willing to trade 2 cookies for an additional ounce of milk. Rita is willing to trade four cookies for an additional ounce of milk
If trading is possible, which of the following is most likely to occur? A) Joe will give some milk to Rita in exchange for cookies. B) Rita will give some milk to Joe in exchange for cookies. C) No trade will take place since they both prefer to have more milk and fewer cookies. D) There is not enough information to make any predictions.
Suppose that a decrease in the price of good X results in fewer units of good Y being demanded. This implies that X and Y are
a. complementary goods. b. normal goods. c. inferior goods. d. substitute goods.