When a country enters a free trade agreement, which of the following issues might be a problem they face?
A higher tariffs on imported goods
B lower quotas that increase imports
C lower prices for consumers in markets
D decline in some industries as jobs cross borders

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.

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Which situation is the best example of regulation in an economic system? a retail business just opened a new store in a community close to its original location. a small clothing shop slashed it prices to attract customers from a larger department store nearby. a farmers’ market has offered a special deal to customers from a nearby yoga school. a state agency has been created to monitor the production and distribution of sports drinks.