An example of economic integration in the Western hemisphere that created a free-trade zone is the:
A. North American Free Trade Agreement
B. Reciprocal Trade Agreements Act
C. North Atlantic Treaty Organization
D. World Trade Organization
A. North American Free Trade Agreement
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The balance of trade is measured by which of the following expressions?
a. The value of exported goods and services minus the value of imported goods and services b. The value of income receipts on investments minus income payments on investments c. The value of goods exports minus the value of goods imports d. The value of government spending minus the value of all taxes received e. The balance on capital account plus the balance on current account
In the United States cartels are:
A. quite common in industries that produce nondurable goods. B. in violation of the antitrust laws. C. concentrated in monopolistically competitive industries. D. encouraged by government policy so firms can achieve economies of scale.