If nominal wage rates increase by 2 percent per year and the price level increases by 5 percent per year, real wages will _____
Fill in the blank(s) with the appropriate word(s).
decrease by 3 percent per year.
Economics
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The current account includes all of the following accounts except
A) net transfers. B) net exports. C) net financial derivatives. D) net factor payments.
Economics
Consumer equilibrium is a condition in which total utility cannot increase by spending more of a given budget on one good and spending ____ on another good
a. an equal amount b. more c. less d. zero
Economics
_______% of the people on welfare lives below the poverty line.
Fill in the blank(s) with the appropriate word(s).
Economics
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.
Economics