In 2005, ________ Established a Free Trade Zone Between the United

question 131

Multiple Choice

In 2005, ________ established a free trade zone between the United States and Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua.

• A) CAFTA-DR
• B) FTAA
• C) CAN
• D) NAFTA
• E) the EU

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given income and prices.

Commodity 1

A basic good used in commerce that is interchangeable with other goods of the same type, typically referred to when discussing market transactions.

Units of Y

A placeholder term generally referring to quantities or measurements of a variable Y.

Units of X

A measure or quantity of a particular good, product, or factor of production expressed as a discreet unit for analysis or transaction purposes.