Under the NAFTA, countries must enforce their own labor standards

If the price of a good rises, then the effect on the income of the factors that are used intensively in its production will be

A) to raise income by an absolute amount that is less than the rise in prices. B) to raise income by an absolute amount that is more than the rise in prices. C) to raise income by a smaller percentage than the rise in prices. D) to raise income by a greater percentage than the rise in prices. E) to cause income to fall.

In the current Post-Industrial economy, international trade in services (including banking and financial services)

A) dominates world trade. B) does not exist. C) is an increasingly important component of global trade. D) is relatively stagnant. E) far surpasses the predictions of economist Alan Blinder.