Between 2007 and 2009 Our Trade Deficit

question 100

Multiple Choice

Between 2007 and 2009 our trade deficit

• A)fell substantially.
• B)remained about the same.
• C)rose about 40 percent.
• D)almost doubleD.
• E)more than quadrupled.

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Definitions:

Wage Differentials

The variations in wage rates due to factors such as occupation, industry, location, and skills level.

Labor Immobility

A situation where workers find it difficult to move between jobs or geographical locations, often due to skills, qualifications, or other barriers.

Compensating Differences

Wage differentials that compensate employees for the desirability or undesirability of a job due to various factors, such as risk, effort, or location.

Age-Earnings Data

Information that correlates individuals' ages with their earnings to analyze economic patterns.