Everything else held constant, a decrease in net exports ________ aggregate ________

Which of the following trade agreements provides for the development of a single market among its members?

A) World Trade Organization B) European Union C) North American Free Trade Agreement D) Asian Pacific Economic Cooperation

If real income rises faster than absorption during a time of economic expansion, then

A) the nation will experience a current account surplus. B) the nation will experience a current account deficit. C) national production will increase until absorption and income are balanced. D) the nation's imports must rise relative to its exports.