Deflating refers to
a. discounting a future value into its present value by accounting for the opportunity cost of money
b. converting a real value into its associated nominal value
c. using the discount rate to correct for environmental benefits or costs accruing in some future time period
d. none of the above
d. none of the above
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An efficiency-wage premium serves the same function as a bond because, just as with a bond, the premium represents
A) the amount the employee loses if caught shirking. B) the expected value of the amount the employee loses if he shirks. C) the cost of monitoring the employee. D) the gain to the employee if he shirks.
In the simplified circular flow diagram, leakage can occur when consumers save some income
a. True b. False Indicate whether the statement is true or false
In April, market analysts predict that the price of titanium will fall in May. What happens in the titanium market in April, holding everything else constant?
A) The quantity demanded and the quantity supplied increase. B) The supply curve shifts to the right. C) The supply curve shifts to the left. D) The demand curve shifts to the right.
If the existing unemployment rate is 6.2 percent and the natural unemployment rate is 4.5 percent, the cyclical unemployment rate is ________ percent.
a. 10.7 b. 5.35 c. -1.7 d. 1.7