An overall rise in prices in the economy is called:
A. inflation.
B. deflation.
C. core inflation.
D. core deflation.
A. inflation.
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Suppose you have $400 and the inflation rate is 4 percent. In order to earn a real return of $20 on your investment, the nominal interest rate must be
A) 1 percent. B) 5 percent. C) 9 percent. D) 12 percent.
The demand for spring break vacations is _________________ than is the demand for textbooks because ________________.
A. less price elastic; vacations have more available substitutes. B. more price elastic; vacations have less available substitutes. C. less price elastic; vacations are more of a luxury. D. more price elastic; vacations are more of a luxury.
If you are out of work and are not looking for a job, then:
a. you are classified as "unemployed." b. You are part of the unemployment rate, but you are not part of the workforce. c. You are part of the unemployment rate, because you are part of the workforce. d. You are not classified as "unemployed," because you are no longer a part of the workforce. e. None of the above.
If the marginal cost of producing the tenth unit of output is $2.50, and if the average total cost of producing the tenth unit of output is $3, then at ten units of output, average total cost is rising
a. True b. False Indicate whether the statement is true or false