Name the eight HPAEs
What will be an ideal response?
Hong Kong, Indonesia, Japan, Malaysia, Singapore, South Korea, Taiwan, Thailand
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A major U.S. motive for negotiating a free-trade agreement with Mexico was
a. to gain increased access to Mexico's huge oil reserves b. to achieve ultimately political union with Mexico c. as a stepping-stone to the formation of a free-trade bloc in the whole Western Hemisphere d. to appease Canada e. to appease GATT
Marginal analysis involves looking at the extra costs involved in a decision
a. True b. False Indicate whether the statement is true or false
In the above figure, the movement from point a to point b reflects
A) a decrease in the price of pizza.
B) an increase in the demand for pizza.
C) an increase in the number of people who eat pizza.
D) an increase in the price of the tomato sauce used to produce pizza.
E) a decrease in the number of firms producing pizza.
Which of the following is NOT an inference of the rational expectations hypothesis?
A. Government policy actions that are anticipated have no real effects in the short run. B. Government policy actions have no real effects in the short run unless the actions are unanticipated. C. Government policy actions have no real effects in the long run. D. Government policy actions that are unanticipated have no monetary effects in the short run.