Which statement is true?
A. Every nation should try to be completely self-sufficient.
B. International trade lowers our standard of living.
C. The basis for international trade is specialization.
D. Importing consumer products increases our prices.
C. The basis for international trade is specialization.
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Which one of the following events will leave GDP unchanged?
a. You pay $500 to repair your car damaged in an accident. b. You buy a new domestic car to replace one that was stolen. c. You lose $500 playing blackjack with friends. d. You work extra hours this month to help make up for the money you lost playing blackjack.
If the inflation rate was 10%, and the tax rate was 25%, and you deposited money in a bank account that paid 14%, what is after tax real interest rate? Show you work