A license that gives the inventor of a new product the exclusive right to sell it for a certain period of time:

Which of the following has been an outcome of the North American Free Trade Agreement (NAFTA)?

A. A lower standard of living in Canada, Mexico, and the United States. B. Lower wages in the United States and Canada. C. Increased trade among Canada, Mexico, and the United States. D. Lower wages and reduced employment in Mexico.

Assume that an economy's spending multiplier is 4. If this economy is in equilibrium at $2,000 billion, then which one of the following actions will bring it to a full-employment equilibrium of $1,500 billion?

A. $500 billion spending cut. B. $500 billion spending increase. C. $125 billion spending cut. D. $125 billion spending increase.