Answer:
lower real wage rates
Explanation:
The answer is --
"lower real wage rates".
At least two or more countries involved in free trade agreement where the quality of the trade relation between the countries are improved. There is mutual cooperation between the two countries to lower the trade barriers reduce the tariffs and trade quotas, etc.
Free trade means more growth and rise in economy but it affects the wage rates. There are more skilled labors in the rich country compared to a poor country. Therefore the free trade will increase the wages of the skilled labor whereas it will decrease the wages of the unskilled labor. This theory is given by Stolper-Samuelson.
Therefore in the context, the rich country A importing goods at lower price will not offset the claim of lower the wages rates in the country.
Hence the answer is --
"lower real wage rates".
These words were captured from the writing "The Rhythm of Life" and it was written by Matthew Kelly. What was being highlighted is that person standard can be affected and defined by the people who surrounds them. People cannot be completed and fulfilled of being alone.
The Federal Reserve Act of 2000 says that the Fed "shall maintain <u>long run </u>growth of the monetary and credit aggregates commensurate with the economy's <u>long run</u> potential to increase production.
<u>Explanation:</u>
The Act was created in 1913 and signed by the then ruling president as a way of establishing economic stability. This act introduced the central bank to oversee the state monetary policies. The law was established to set out the structure, purpose and function of the Reserve System.
Due to recession and other financial crisis prior to 1913, investors lacked trust in bank systems, therefore the act was passed to bridge the gap between citizens and the banking system. Over the years it has been amended by Congress to keep up with the changing financial times.
