Mexico is
a. a poor country, and over the past century its rate of economic growth has been higher than that of the United States.
b. a poor country, and over the past century its rate of economic growth has been lower than that of the United States.
c. a middle-income country, and over the past century its rate of economic growth has been higher than that of the United States.
d. a middle-income country, and over the past century its rate of economic growth has been lower than that of the United States.
c
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Generally speaking, protection from foreign competition benefits:
a. both domestic producers and foreign producers. b. both domestic consumers and foreign consumers. c. domestic consumers and foreign consumers. d. neither domestic producers nor foreign producers. e. domestic producers at the expense of domestic consumers.
In the long run
A) GDP > potential GDP. B) unemployment is at its natural rate. C) LRAS and SRAS lie on the same line. D) the inflation rate is zero.