Real GDP is always measured in
A) cheaper dollars.
B) quality of goods produced.
C) base-year dollars.
D) nominal dollars.
E) current dollars.
C
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Government policies intended to decrease aggregate spending and output are called ________ policies.
A. fiscal B. monetary C. aggregate D. contractionary
One cost of unanticipated inflation is
A) nominal income falls below real income. B) both lenders and borrowers lose. C) arbitrary redistributions of income. D) people cannot repay their debts.
If a company could spend $3 per bicycle on a safety device that would prevent $2,000 worth of harm for every 1,000 bicycles sold, spending the $3 would be a cost-justified precaution
Indicate whether the statement is true or false
Isabel can work as a rodeo clown, where the probability of being killed in a work-related accident is 5/10,000, or she can earn work as a sword swallower, where the probability of being killed in a work-related accident is 3/10,000
Using the compensating differential approach, the value of Isabel's life is $5 million. How much more per year will working as a rodeo clown pay than working as a sword swallower?