Real income in yearX equal to:
a. x 100
b.
c. x 100
d. yearX nominal income x CPI.
b
You might also like to view...
In real business cycle theory, the persistence of shocks to total factor productivity is justified by
A) the fact that some capital depreciates every period. B) the behavior of Solow residuals. C) the fact that Taylor rules have been used in post-war United States. D) the fact that capital takes some time to build.
Which of the following goods will have the most inelastic demand at any time?
a. jewelry b. Big Macs c. electricity d. pork chops
Which of the following is closest to the future value of a $4,000 deposit earning 2 percent interest annually after 10 years?
A. $4,876 B. $4,122 C. $4,805 D. $5,025
Ben says that "an increase in the tax on beer will raise its price." Holly argues that "taxes should be increased on beer because college students drink too much." We can conclude that:
A. Ben's statement is normative, but Holly's is positive. B. Holly's statement is normative, but Ben's is positive. C. Both statements are normative. D. Both statements are positive.