It is important to compare debt levels of low- and middle-income countries to exports because countries must earn foreign exchange in order to service their debts

Of the following, which is NOT a regional trade agreement?

a. the World Trade Organization b. the European Union c. the North American Free Trade Agreement d. the Central American Free Trade Agreement

Figure 10-6

Given the aggregate demand and aggregate supply curves for the economy depicted in , the economy's current output and price level are
a.
output y₁ and price level P₂.
b.
output y₂ and price level P₁.
c.
output y₁ and price level P₃.
d.
output y₂ and price level P₃.