A decrease in net wealth will _____
Fill in the blank(s) with the appropriate word(s).
increase saving and decrease consumption.
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What are some of the long-run costs of tariffs?
What will be an ideal response?
Most developing countries oppose including labor standards in trade agreements because
A) they believe this would involve a loss of their national sovereignty. B) they believe this would limit their ability to export to rich markets. C) they believe this would create an uneven playing field. D) multinational corporations control them. E) they do not want to improve wages for their workers.
What is the relationship between real and nominal GDP?
a. real GDP = nominal GDP – Price level b. nominal GDP = Real GDP/Price level c. real GDP = nominal GDP/Price level d. real GDP = nominal GDP + Price level.
Interest earned on funds compounds because in future years, interest is earned on ________.
A) the principal and interest received in previous years only B) interest received in previous years only C) principal only D) future values