If nominal GDP falls, then so must real GDP.

Why are economists sometimes skeptical about international labor standards?

a. They are difficult to enforce. b. They create more competition for U.S. workers. c. GATT does not allow labor standards. d. They may be used as a rationale to protect domestic activities that can no longer compete with imports.

If an observed correlation is unlikely to be due to sampling error it has ______.

A) statistical significance B) practical significance C) reliability D) validity