Other Things the Same,if Workers and Firms Expected Prices to Rise

question 31

Multiple Choice

Other things the same,if workers and firms expected prices to rise by 2 percent but instead they rise by 3 percent,then

• A)employment and production rise.
• B)employment rises and production falls.
• C)employment falls and production rises.
• D)employment and production fall.

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Definitions:

Free Traders

Individuals or entities advocating for minimal restrictions on international trade, believing it enhances economic efficiency and benefits all countries involved.

Merchandise Trade Imbalance

A situation where the import and export of goods in a country do not balance, resulting in either a trade surplus or deficit.

Overall Trade Imbalance

A situation where the value of a country's imports significantly surpasses or falls short of its exports, reflecting a disparity in trade flow.

World War II

A global conflict that lasted from 1939 to 1945, involving most of the world's nations and resulting in significant geopolitical changes and the establishment of the United Nations.