The purpose of the Labor Side Agreement under NAFTA is to:
a. increase standards in Mexico only.
b. increase standards throughout NAFTA.
c. enforce existing standards throughout NAFTA.
d. renegotiate standards.
Ans: c. enforce existing standards throughout NAFTA.
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Reading a Consumer Reports review of a vacuum cleaner before buying is the same way of dealing with information asymmetry as:
A. an employer requiring a drug test. B. an insurance company offering different deductible-level plans. C. a buyer choosing a used car from a brand dealership. D. a college charging a high tuition relative to other schools.
Ultimately, productivity growth is the major determinant of a country's standard of living
a. True b. False Indicate whether the statement is true or false
Wages in the United States are higher than those in Mexico primarily because
a. output per worker is higher in Mexico than in the United States. b. output per worker is higher in the United States. c. the human and physical capital of American workers is lower than that of their Mexican counterparts. d. all of the above are correct.