The nominal value of GDP is:
a. expressed in monetary values adjusted for inflation
b. expressed in monetary values that are not adjusted for inflation.
c. expressed in numeric values that does not correlate to a monetary term.
d. expressed as a ratio between the value of consumption expenditure and the value of investment expenditure.
b
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When playing a game, a pure strategy refers to
A) a strategy that does not allow any players to cheat. B) the best possible strategy that can be played, given other players' strategies. C) using the same strategy time after time. D) the only possible winning strategy.
Regulation focused on the impact of production on the environment and society, the working conditions under which production occurs, or the physical attributes of goods, is known as
A) cost-of-service regulation. B) rate-of-return regulation. C) social regulation. D) monopoly regulation.