Which of the following trade agreements provides for the development of a single market among its members?
A. North American Free Trade Agreement
B. World Trade Organization
C. European Union
D. Asian Pacific Economic Cooperation
Answer: C
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When the GDP is measured using "adjustments for price changes" it is known as the
A) real GNP. B) nominal GDP. C) real GDP. D) nominal GNP.
Research and development is most likely to have an impact on the _____
a. quantity of labor available b. quantity of capital goods available c. quality of labor available d. quality of capital goods available e. use of energy
Suppose a bank purchases $50 of government securities using funds from reserves. How much do bank assets change as a result of this transaction?
Relative to free trade, domestic consumers of a good are ________ off with a tariff because of the ________
A) better; higher price and greater quantity sold B) better; higher price and smaller quantity sold C) better; lower price and greater quantity sold D) worse; lower price and smaller quantity sold E) worse; higher price and greater quantity sold