The relationship between the level of prices and the quantity of real GDP supplied is known as

The text compares two studies on the profitability of slavery: one by Phillips and the other by Conrad and Meyer. The main reason for the difference in their results is:

a. Phillips failed to account for the effect of productivity gains in the concerned period. b. Conrad and Meyer had better data on slave prices. c. Conrad and Meyer used data from both northern and southern farms. d. Phillips assumed that cotton prices were falling during the antebellum period.

The U.S. Census Bureau considers in-kind transfers (such as employer provided benefits) when measuring income

a. True b. False