In describing the economic setting in the real goods market, which of the following economic measures is the most helpful?
a. Percentage change in nominal GDP during the past year
b. Current unemployment rate and labor force participation rate
c. Annual inflation rate during the past year
d. Current real exchange rate
e. Current nominal exchange rate
.B
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Since 1940 the percentage of elementary and secondary educational expenditures financed by local governments _____
a. declined by around 10 percentage points b. increased by around 10 percentage points c. increased by around 5 percentage points d. declined by around 15 percentage points
The moral hazard associated with managers whose productivity is difficult to quantify can be decreased with
A) piece-rate contracts. B) year-end bonuses. C) decreased wages. D) adverse selection.
The Federal Reserve has been quite consistently successful in keeping the inflation rate low over its entire history
a. True b. False
Power plants with the lowest operating costs tend to:
A. have the lowest fixed costs in terms of construction. B. have the highest fixed costs in terms of construction. C. operate on the smallest scale of energy production. D. generate the cleanest energy.