The base year is the year
A) in which prices are unstable.
B) in which prices are lowest.
C) in which prices are highest.
D) that serves as a reference point or benchmark.
E) in which nominal output is largest.
D
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The above figure shows the Lorenz curve for wealth for the nation of Rusha. The wealthiest forty percent of the population own what percent of wealth?
A) 40 percent B) 50 percent C) 60 percent D) 100 percent
Refer to Figure 12-1. If the firm is producing 200 units
A) it should increase its output to maximize profit. B) it is making a loss. C) it breaks even. D) it should cut back its output to maximize profit.
If the actual rate of inflation is higher than that anticipated by a borrower and a lender while entering a contract, the real rate of interest will be higher than expected
a. True b. False Indicate whether the statement is true or false
As the football season approaches, the threat of a player strike would give
a. both players and management an incentive to bargain seriously. b. only the players an incentive to bargain seriously. c. only management an incentive to bargain seriously. d. neither party much incentive to bargain seriously.