Which of the following is true of Western Europe, Japan, Canada, Mexico, and China taken together?
a. All these countries are classified as high-income countries by the World Bank.
b. They are all members of the North American Free Trade Agreement NAFTA.
c. All these countries are considered developing countries by the World Bank.
d. They are collectively the largest trade partners of the U.S.
e. They are the five largest exporters of agricultural produce in the world.
Question 2
Most natural monopolies are regulated at some level by a government because:
a. an unregulated natural monopolist would cause the problem of capital outflow.
b. an unregulated natural monopolist would produce only for government bureaucrats.
c. an unregulated natural monopolist would charge an inefficiently low price in the market.
d. an unregulated natural monopolist would charge an inefficiently high price in the market.
e. an unregulated natural monopolist would incur losses.
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