In describing the economic setting in the real goods market, which of the following economic measures is the most helpful?
a. Percentage change in nominal GDP during the past year
b. Current unemployment rate and labor force participation rate
c. Annual inflation rate during the past year
d. Current real exchange rate
e. Current nominal exchange rate
.B
Economics
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Refer to the figure above. If the price of a sweater is $3 and the budget constraint of the consumer is B3, his income is:
A) $45. B) $90. C) $135. D) $270.
Economics
When a firm sells its good abroad below the cost of producing the good the firm is
A) using the concept of comparative advantage. B) dumping. C) taking advantage of the infant industry argument. D) taking advantage of absolute advantage.
Economics