If you want to have $50,000 in 5 years, how much would you need to put in your savings account now if the savings account pays 3 percent interest?

If net exports are negative,

A) net foreign investment is positive. B) capital inflows must be less than capital outflows. C) net foreign investment is also negative. D) Both A and B are correct.

An association of producers in an industry that agree to set common prices and output quotas to prevent competition is

A) a tariff. B) a patent. C) economies of scale. D) a cartel.