The nominal value of any economic statistic refers to the number that is actually announced at that time, while the ________________ refers to the statistic after it has been adjusted for inflation.
Fill in the blank(s) with the appropriate word(s)
Answer: real value
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Hershey Chocolate Factory pays a money wage rate equal to $30 per hour and sells its candy bars for $1.50 each. Hershey Chocolate Factory should hire labor until an additional unit of labor produces ________ candy bars an hour
A) 30 B) 20 C) 1.5 D) 45 E) 10
If two quick oil change companies agree that one company will purchase locations in rural and suburban areas and the other company will purchase locations in the urban areas, this is an example of ________.
A) bid rigging B) price fixing C) output restrictions D) market division
Economists are still unsure whether the level of demand can be affected by government policy
Indicate whether the statement is true or false
The original reasons for founding the colony of Georgia do not include:
a. alleviating London of some of its poorer people. b. being a partial remedy to the injustice of debtor prisons. c. providing a buffer between the English and Spanish colonies. d. being a scheme to take advantage of desperate families.