Using data from Trade Adjustment Assistance claims, we can make an accurate estimate of:
a. the variety of products U.S. consumers import from Mexico.
b. U.S. exports to Mexico that give Mexican consumers more product variety.
c. the barriers to trade erected by affected firms.
d. the unemployment caused by NAFTA.
Ans: d. the unemployment caused by NAFTA.
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Saving and investment that increase a nation's capital lead to
A) slower growth because there is a lack of consumption. B) a decrease in labor productivity as capital is used to replace labor. C) a decrease in the amount of capital per worker. D) an increase in labor productivity.
Refer to Figure 13-2. Ceteris paribus, a decrease in the price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
The creation of markets that were previously "missing":
A. can create winners and losers. B. increases total surplus. C. benefits those who interact in the new markets. D. All of these are true.
A price floor represents
A) a maximum price that can be legally charged for a product or service. B) a minimum price that can be legally charged for a good or service. C) a lottery imposed upon producers by the government. D) a first come, first served mechanism for controlling prices.