A long term goal of the NAFTA member countries is to integrate their economies into a single economic entity with a common currency as well as common trade policies and internal factor mobility
Indicate whether the statement is true or false
FALSE
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At full-employment GDP,
A) the long-run aggregate demand curve is horizontal. B) the long-run aggregate demand curve is vertical. C) the long-run aggregate supply curve is horizontal. D) the long-run aggregate supply curve is vertical.
The percentage of the population classified as poor in 2010 was approximately
a. 7 percent. b. 15 percent. c. 21 percent. d. 25 percent.
Marginal product measures the change in:
a. total cost brought about by changing production by one unit. b. product price brought about by changing production by one unit. c. a firm's revenue brought about by changing production by one unit. d. the firm's output brought about by employing one additional unit of input. e. the firm's profit brought about by employing one more input.
If Darby values a soccer ball at $50, and she pays $40 for it, her consumer surplus is $10
a. True b. False Indicate whether the statement is true or false