The real-nominal principle can be stated as

A) only final goods and services should be counted in GDP.
B) only the manufacture of real goods is production.
C) what matters to people is the purchasing power of money or income.
D) production generates income.

C

Economics

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The Lerner Index is

A) the ratio of the difference between price and marginal cost to price. B) equal to (Price - MC)/Price C) a measure of market power. D) All of the above.

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Why is a monopoly inefficient?

What will be an ideal response?

Economics