The model of expectations in which the current level of inflation depends on past levels is referred to as:
A) realized real expectations. B) adaptive expectations.
C) rational expectations. D) composite expectations.
B
Economics
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Mr. Smith earned a salary of $5,000 in in 1980 while his son earned a salary of $8,000 in 2010. If the price index for 1980 was 100 and that for 2010 was 198, whose salary was worth more? Explain your answer
What will be an ideal response?
Economics
Nominal GDP is:
A. the sum of all monetary transactions that occur in the economy in a year. B. the sum of all monetary transactions involving final goods and services that occur in the economy in a year. C. the amount of production that occurs when the economy is operating at full employment. D. money GDP adjusted for inflation.
Economics