If you earned $10-an-hour in 2005 when the CPI was 100, and you earn $11-an-hour today when the CPI is 120, then your real wage rate has _____ since 2005.
Fill in the blank(s) with the appropriate word(s).
decreased
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If the value of a nation's merchandise imports exceeds merchandise exports, the nation is running a
What will be an ideal response?
In the _______ range of the aggregate supply curve, expansionary fiscal policy that causes aggregate ______ to increase will lead to a higher price level and a higher equilibrium level of real GDP. ?
A. ?Keynesian, supply B. ?Classical, demand C. ?Intermediate, demand D. ?Intermediate, supply
In The Wealth of Nations, published in 1776, Adam Smith tried to show that
What will be an ideal response?
Which of the following financial instruments provides a buyer the right (but not the obligation) to purchase or sell a fixed amount of currency at a prearranged price, within a few days to a few years?
A. Currency option B. Letter of credit C. Currency swap D. Forward contract