If the real GDP of a country is substantially lower than its nominal GDP, the country experiences low inflation and unemployment
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Opportunity cost of an activity
a. Is known to all parties b. Cannot be measured in dollar terms c. May include both monetary costs and foregone incomes d. Is known with all certainty
Economics
Since individual buyers and individual sellers in a competitive market have no influence on the market price, what do we call the buyers and sellers in a competitive market?
Economics