Real income:
A. Is income adjusted for unemployment.
B. Is income without any adjustment.
C. Reflects the purchasing power of money.
D. Reflects the stability of the labor force.
C. Reflects the purchasing power of money.
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Kevin purchasing concert tickets with his debit card is an example of the ________ function of money
A) medium of exchange B) unit of account C) store of value D) specialization
Of the following, which is the least likely example of an increase in total factor productivity?
A) the introduction of the assembly line B) an increase in immigration C) good weather D) a reduction in the relative price of energy
If a firm doesn't make an economic profit, it will shut down
Indicate whether the statement is true or false
For each of the following changes, what happens to the real interest rate and output in the very short run, before the price level has adjusted to restore general equilibrium?(a)Wealth declines.(b)Money supply declines.(c)The future marginal productivity of capital declines.(d)Expected inflation rises.(e)Future income rises.
What will be an ideal response?