Which industry was first covered by a free trade agreement between Canada and the United States?

Which of these describes the real gross domestic product?

a. Gross domestic product from which depreciation costs have been deducted b. Gross domestic product that has been adjusted for changes in the price level c. Gross domestic product from which taxes have been deducted d. Gross domestic product that has been adjusted for changes in exchange rate e. Gross domestic product that has been adjusted for changes in interest rates

Suppose that gasoline prices increase dramatically this month. Lola commutes 100 miles to work each weekday. Over the next few months, Lola drives less on the weekends to try to save money. Within the year, she sells her home and purchases one only 10 miles from her place of employment. These examples illustrate the importance of

a. the availability of substitutes in determining the price elasticity of demand. b. a necessity versus a luxury in determining the price elasticity of demand. c. the definition of a market in determining the price elasticity of demand. d. the time horizon in determining the price elasticity of demand.