Between 1999 and 2007, After NAFTA Had Been in Operation

question 20

Multiple Choice

Between 1999 and 2007, after NAFTA had been in operation for some time,

• A)U.S. imports from Mexico fell, but U.S. exports to Mexico fell even more.
• B)U.S. exports to Mexico increased, but U.S. imports from Mexico increased even more.
• C)total U.S. exports fell, but total U.S. imports fell even more.
• D)total U.S. imports increased, but total U.S. exports increased even more.

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Definitions:

Substitute

A good or service that can be used in place of another to satisfy consumer needs or wants.

Dr. Pepper

A brand of carbonated soft drink created in the United States and well-known for its unique flavor.

Law Of Demand

The negative relationship between price and quantity demanded: Ceteris paribus, as price rises, quantity demanded decreases; as price falls, quantity demanded increases.

Prices Fall

A scenario in which the market prices of goods or services decrease, often due to increased supply or reduced demand.