A COLA is
A. An automatic adjustment of nominal income to the rate of inflation.
B. An inflation rate of at least 200 percent, lasting more than one year.
C. A price index that refers to all goods and services included in GDP.
D. A mortgage that adjusts the nominal interest rate to changing rates of inflation.
Answer: A
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If labor and capital are perfect complements in production, short run supply curves are vertical.
Answer the following statement true (T) or false (F)
There is a government budget surplus if
A) G > T. B) G > TR. C) T - TR > G. D) TR < T.
In the ________ markets all profits and losses must be settled on a daily basis
A) futures B) forward C) spot D) swap
Sophia just bought shares of IBM stock for $20,000 and paid a $300 commission to her broker. How did this impact GDP?
A) GDP increased by $20,300 B) GDP increased by $300 C) GDP increased by $20,000 D) GDP increased by $19,700 E) it had no impact on GDP