QUESTION 16 If the GDP of Japan is $10 trillion and the GDP of Mexico is $1 tril

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QUESTION 16 If the GDP of Japan is $10 trillion and the GDP of Mexico is $1 trillion, we can conclude that the average citizen of Japan is 10 times better off than the average citizen of Mexico O True O False QUESTION 17 Which of the following statements is false? 0 If a country has comparative advantage in producing a good and free trade is allowed, it will be an exporter of that good. DOutsourcing of jobs from the U.S. to foreign countries necessarily results in a higher unemployment rate in the U.S and harms the U.S. economy The North American Free Trade Agreement (NAFTA) Is an example of a regional trade apreement. nsumer spending is the largest expenditure component of U.S. GDP. Save All Answ

Explanation / Answer

16 false because GDP does not always mean greater welfare

17 B outsourcing of jobs....... Is false because outsourcing can happen even when unemployment is at natural rate as is today in USA

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