When a Nation Exports a Good,its Total Surplus ________,And When

question 241

Multiple Choice

When a nation exports a good,its total surplus ________,and when it imports a good,its total surplus ________.

• A) increases; increases
• B) decreases; decreases
• C) increases; decreases
• D) decreases; increases
• E) does not change; does not change

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Definitions:

Average Real Hourly Earnings

The inflation-adjusted earnings of workers per hour, reflecting their purchasing power over time.

Rate of Inflation

The percentage increase in the general price level of goods and services in an economy over a period of time.

Annual Earnings

The total amount of money earned by an individual or entity in one year, before deductions such as taxes.

Federal Minimum Wage

The lowest legal hourly wage that an employer can pay to workers, as mandated by the federal government.