If the actual rate of inflation exceeds the expected rate of inflation, the actual real wage is greater than the expected real wage and unemployment falls
Indicate whether the statement is true or false
FALSE
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The term "barter" is used to refer to
Answer the following statement(s) true (T) or false (F)
1. If the nominal value of a benefit in 2011 is $1,500, its real value in 2012, assuming a 3 percent inflation rate, is $1,545. 2. If the real value of an environmental cost in 2011 is $2,500, its nominal value in 2010, assuming a 2 percent inflation rate, must have been $2,550. 3. The present value of benefits (PVB) is equal to?(bt/[1+rs]t), with bt= Bt/(1 + p)t. 4. For a given policy option, if the ratio of the present value of benefits (PVB) to the present value of costs (PVC) is greater than zero, that policy option is considered to be feasible. 5. For a given policy option, if (PVB – PVC) is greater than 1, that policy option is considered to be feasible.
Which of these questions does aggregate demand help us answer?
I. What determines the total amount of our output that individuals, firms, governments and foreigners want to buy? II. What is the economy's long-run real Gross Domestic Product (GDP)? III. What determines the economy's equilibrium price level and the rate of inflation? A) I only B) I and II C) II and III D) I and III
Who from among the following would be classified as out of the labor force?
A. A person with a part-time job who wants and is looking for a full-time job. B. A person who is willing to work but has not looked for a job in two months. C. A person who is willing to work and has looked for a job in the last week. D. None of these people would be classified as out of the labor force.