Real dollars are also called inflation-adjusted dollars.
Answer the following statement true (T) or false (F)
True
Economists use the term "real" to mean "inflation-adjusted."
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A nation that has done well economically in spite of a lack of natural resources is
a. the United States. b. Japan. c. Canada. d. Australia.
If a restaurant like Buffalo Wild Wings has higher costs than a comparable Hooters restaurant, the only way it can have higher profits is if
A) the demand for its food is higher than the demand for food at Hooters. B) it sells the quantity associated with its minimum average total cost. C) it has more locations than Hooters. D) its marginal revenue is lower than the marginal revenue of Hooters.
By focusing on the short-run adjustments of aggregate demand, Keynesian economics risks _____________ the long-term causes of economic growth or the natural rate of unemployment that exists, even when the economy is producing at potential GDP.
a. overlooking b. fueling c. minimizing d. increasing
Figure 4-20
Refer to . The amount of the tax per unit is
a.
$1.
b.
$2.
c.
$3.
d.
$5.