Suppose an economy has some inflation. Then, after a base year, the value of real GDP will
A) be less than nominal GDP.
B) not be different from nominal GDP.
C) be greater than nominal GDP.
D) will be approximately half the value of nominal GDP.
C
Economics
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Monetarism is a school of thought put forth by Milton Friedman. He argued that the economy would most likely
A) be below potential GDP. B) be above potential GDP. C) be unstable. D) be at potential GDP.
Economics
Which of the following statements is correct?
a. Differences in human capital may explain differences in wages between blacks and whites. b. Racial discrimination is the strongest explanation for differences in wages between blacks and whites. c. Gender discrimination is the strongest explanation for differences in wages between blacks and whites. d. None of the above statements is correct.
Economics