Which of the following situations resulted from the North American Free Trade Agreement (NAFTA)?
a. The cost of tortillas in Mexico decreased.
b. Corn export to the U.S. from Mexico declined.
c. Corn export to the U.S. from Mexico increased.
d. The cost of tortillas in the U.S. increased.
C
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As the housing bubble collapsed, the combination of increasing interest rates and pessimism about future economic prospects:
A. increased both consumption and investment spending. B. decreased consumption and increased investment spending. C. decreased both consumption and investment spending. D. increased consumption and decreased investment spending.
Economists use the term shocks to mean
A. sudden rises in oil prices. B. unexpected government actions that affect the economy. C. typically unpredictable forces that have major impacts on the economy. D. the business cycle.
Savings accounts are also known as
a. M3 money b. time deposits c. demand deposits d. money market deposit accounts e. noninterest bearing M1 money
The Uruguay Round of GATT negotiations completed in late 1993:
A. established a free trade zone between the United States and Mexico. B. made the Russian ruble convertible into other currencies. C. created the European Union (EU). D. created international protections for intellectual property such as patents, copyrights, and trademarks.