Assume that between 1998 and 2008, nominal GDP increased from $7 trillion to $12 trillion and that the price index rose from 100 to 133.3 . Which of the following expresses GDP for 2008 in terms of 1998 prices?

The typical relationship between a worker's productivity and the worker's wage rate is

A) high productivity workers receive low wage rates. B) low productivity workers receive low wage rates. C) no link between productivity and wages earned. D) high productivity workers find that their jobs are often outsourced. E) that workers with high productivity need to have their high wages protected by tariffs.

If two countries are very different in relative factor abundance, then empirical support for which of the following would less likely?

A) the Factor Price Equalization Theorem B) the Heckscher-Ohlin Theorem C) the Law of One Price D) the Law of Demand E) the Gravity Theorem