The North American Free Trade Agreement (NAFTA)
a. involves the United States, Canada, and Mexico
b. did not increase the volume of trade among the countries of North America
c. was negotiated after President Obama took office
d. failed to acknowledge environmental protection in its trade propositions
a. involves the United States, Canada, and Mexico
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If Jill's MRS of popcorn for candy is 2 (popcorn is on the horizontal axis), Jill would willingly give up:
A) 2, but no more than 2, units of popcorn for an additional unit of candy. B) 2, but no more than 2, units of candy for an additional unit of popcorn. C) 1, but no more than 1, unit of candy for an additional 2 units of popcorn. D) 2, but no more than 2, units of popcorn for an additional 2 units of candy.
When the price of hot dogs is $1.50 each, 500 hot dogs are sold every day. After the price falls to $1.35 each, 510 hot dogs are sold every day. At the original price, what is the price elasticity of demand for hot dogs?
A. 0.2 B. 2 C. 5 D. 66.67