Referring to Figure 19.1, Mexican goods will become cheaper in the United States if the exchange rate goes from ________ to ________ pesos to the dollar

A most favored nation clause in a trade agreement among nations means that

a. only one nation will receive the lowest tariff b. tariffs are prohibited c. tariffs can only be applied to member countries d. any tariff reduction given to any member of the group applies to every member e. the nations will not trade with other nations except in emergency

Cab drivers operating from JFK Airport to the City of New York legally must charge a specific fare. This is an example of

A. social regulation. B. the rate of return test. C. economic regulation. D. the market share test.