NAFTA refers to the:
A. National Association of Free Trade Agencies.
B. National Alliance for Foreign Trade and Assistance.
C. North American Free Trade Agreement.
D. Northern Alliance for Tariff Adjustment.
C. North American Free Trade Agreement.
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When a budget deficit occurs in the United States, the U.S. Treasury finances this deficit by
A) borrowing. B) imposing a moratorium of new government spending. C) increasing the tax rate. D) printing more dollars.
Which of the following is correct?
a. IM + X = G ? T b. I + G + T = S + X ? M c. I + G + X = S + T + IM d. I + T + G = S ? X ? IM
For an inferior good, an increase in consumer incomes results in an increase in the quantity demanded of the good
a. True b. False Indicate whether the statement is true or false
Economists view positive statements as
a. affirmative, justifying existing economic policy. b. optimistic, putting the best possible interpretation on things. c. descriptive, making a claim about how the world is. d. prescriptive, making a claim about how the world ought to be.