Two methods used to adjust nominal values for inflation are:
A. indexing and deflating.
B. aggregating and disaggregating.
C. real and nominal.
D. substituting and complementing.
Answer: A
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If Jose is 22-years old, is available to work but does not have a job and made no specific efforts to find a job for the previous month, Jose is classified in the Current Population Survey as
A) not in the labor force. B) not in the working-age population. C) unemployed. D) in the labor force but not in the working-age population. E) employed.
If the inflation rate is zero, then the nominal and real interest rate are the same
a. True b. False Indicate whether the statement is true or false
A dentist shares an office building with a radio station. The electrical current from the dentist's drill causes static in the radio broadcast, causing the radio station to lose $10,000 in profits. The radio station could put up a shield at a cost of $30,000 . the dentist could buy a new drill that causes less interference for $6,000 . Either would restore the radio station's lost profits. What
is the economically efficient outcome? a. The radio station puts up a shield, which it pays for. b. The radio station puts up a shield, which the dentist pays for. c. Neither the radio station nor the dentist purchase additional equipment. d. The dentist gets a new drill; it does not matter who pays for it.
Which of the following countries benefited significantly from the catch-up effect in the last half of the twentieth century?
a. Ethiopia b. the United States c. Canada d. South Korea