The local golf course has upgraded seven of its 18 holes and raised its rates from 20 to 24 dollars. It would be correct to say that
A. the true inflation rate for golf is less than 20%.
B. the true inflation rate for golf is 20%.
C. the true inflation rate for golf is more than 20%.
D. more information is needed to answer this question.
Answer: A
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An inflationary gap is created when
A) real GDP is greater than potential GDP. B) real GDP equal to potential GDP. C) the inflation rate is less than potential inflation. D) the price level exceeds the equilibrium price level. E) potential GDP is greater than real GDP.
The only purpose of labor unions is to form a more cohesive bargaining entity to offset the bargaining power of employers in the labor market
Indicate whether the statement is true or false
Given that Monika's income exceeds her expenditures, Monika is best described as a
a. saver or as a supplier of funds. b. saver or as a demander of funds. c. borrower or as a supplier of funds. d. borrower or as a demander of funds.
The twosector (manufacturing and agriculture) specific factors model assumes:
a. that there are increasing returns to labor. b. that there are diminishing returns to labor. c. that there are diminishing returns to capital in the agricultural sector. d. that there are diminishing returns to land in the manufacturing sector.