The single most important reason for Canada's seeking a free trade agreement with the United States was to
A) ensure its access to the U.S. market.
B) ensure its ability to join NAFTA.
C) harmonize its environmental laws with the United States.
D) avoid international outsourcing in low wage countries.
E) ensure the continuation of its social programs.
A
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You bought some shares of stock and, over the next year, the price per share increased by 5 percent, as did the price level. Before taxes, you experienced
a. both a nominal gain and a real gain, and you paid taxes on the nominal gain. b. both a nominal gain and a real gain, and you paid taxes only on the real gain. c. a nominal gain, but no real gain, and you paid taxes on the nominal gain. d. a nominal gain, but no real gain, and you paid no taxes on the transaction.
“People who make more money should pay higher taxes” is an example of
A. the benefits principle. B. horizontal equity. C. vertical efficiency. D. the ability-to-pay principle.