Overall NAFTA has resulted in
A. Very little change in any of the three countries.
B. Massive unemployment and recessions.
C. Accelerated economic growth and reduced inflationary pressures in Canada, Mexico, and the United States.
D. Increased economic growth and employment in Mexico at the expense of the United States.
Answer: C
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Which of the following is an example of a positive statement?
A) Since this good is bad for you, you should not consume it. B) If this good is bad for you, you should not consume it. C) If you consume this good, you will get sick. D) None of the above.
When economists say that the demand for a product has decreased, they mean that
A. consumers are now willing and able to buy less of this product at each possible price. B. the demand curve has shifted to the right. C. the product has become particularly scarce for some reason. D. the product has become more expensive and thus consumers are buying less of it.
Demand deposits are termed so because:
A) depositors can withdraw money from such deposits at any point of time. B) there are no limitations on the amount of money that can be deposited into such accounts. C) depositors can demand any rate of interest on such deposits. D) most consumers want to open such accounts as they are greatly in demand.
Refer to Figure 2-14. What is the opportunity cost of producing 1 popsicle in Iceland?
A) 1 1/2 snow cones B) 3/4 of a snow cone C) 2/3 of a snow cone D) 270 snow cones