During a particular year, nominal wages increased by 4 percent but real wages declined by 2 percent. This implies that the price level increased by 6 percent

To assist pineapple growers in Hawaii, the U.S. government decides to limit the number of pineapples allowed into the country that are grown in Central American countries

Such a restriction prevents many transactions from occurring, and results in opportunity loss which is called a(n) A) import deficit. B) deadweight loss of a quota. C) rent seeking loss. D) non-cooperative surplus.

Identify the four major instruments of monetary policy.

What will be an ideal response?