Author Question: Which of the following situations resulted from the North American Free Trade Agreement (NAFTA)? a. ... (Read 91 times)

waynest · **on:** Jun 30, 2018

Which of the following situations resulted from the North American Free Trade Agreement (NAFTA)?
a. The cost of tortillas in Mexico decreased.
b. Corn export to the U.S. from Mexico declined.
c. Corn export to the U.S. from Mexico increased.
d. The cost of tortillas in the U.S. increased.

Question 2

If a firm is a price taker, then the demand curve faced by the firm is perfectly elastic.
a. True
b. False
Indicate whether the statement is true or false