The North American Free Trade Agreement (NAFTA)
a. involves the United States, Canada, and Mexico
b. did not increase the volume of trade among the countries of North America
c. was negotiated after President Obama took office
d. failed to acknowledge environmental protection in its trade propositions
a. involves the United States, Canada, and Mexico
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Theory seeks to
a. simplify a complex reality b. confront reality in all its complexity by focusing on the unique aspects of each phenomenon c. explain phenomena without predicting them d. predict phenomena without explaining them e. distort reality in order to improve forecasting ability
The marginal external damages of pollution, MEDP, curve could also be viewed as the marginal benefits of pollution abatement.
a. true b. false
?Refer to Exhibit 15-5. In the game:
a. ?the dominant strategy of General Mills is to set a high price.
b. ?the dominant strategy of Kellogg's is to set a low price.
c. ?the dominant strategy of Kellogg's is to set a high price.
d. ?neither firm has a dominant strategy.
If the economy is at full employment, then the unemployment rate
A) is greater than the natural unemployment rate. B) is equal to the natural unemployment rate. C) is below the natural unemployment rate. D) is equal to zero. E) can be anywhere on a short-run Phillips curve.