Question

A nominal variable is one that: A. uses prices in a base year. B. includes a...

A nominal variable is one that:

A. uses prices in a base year.

B. includes a correction for inflation.

C. uses the cost of production.

D. has not been adjusted for inflation.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

OPTION D

if you have any doubt ask in comment i will reply asap.

If you like the answer give thumbs up.

Thank you ?

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
the price level today is 0.75, with a base year of 2010. a. What was the...
the price level today is 0.75, with a base year of 2010. a. What was the price level in 2010? b. Has there been inflation or deflation since 2010, and why? c. Suppose the price level doubles over the course of the next year. What is the price level at the end of next year, and what is the inflation rate?\ d. Based on (c), what is your real rate of return if you make an investment with a 50%...
Suppose the price level today is 0.75, with the base year of 2010. a. What was...
Suppose the price level today is 0.75, with the base year of 2010. a. What was the price level in 2010? b. Has there been inflation or deflation since 2010, and why? c. Suppose the price level doubles over the course of the next year. What is the price level at the end of next year, and what is the inflation rate? d. Based on (c), what is your real rate of return if you make an investment with a...
CPI data from Econland uses 2012 as a base year, and are scaled so that the...
CPI data from Econland uses 2012 as a base year, and are scaled so that the base year has a value of 100. a) The nominal price of a textbook was $5 in 1970, and the CPI for 1970 = 14. What is the real price of the textbook in 1970, measured in 2012 dollars? b) The CPI in 2020 is 260. What was the price of the textbook in 1970, converted to 2020 prices?
5. Real versus nominal GDP Consider a simple economy that produces two goods: pens and erasers....
5. Real versus nominal GDP Consider a simple economy that produces two goods: pens and erasers. The following table shows the prices and quantities of the goods over a three-year period. Year Pens Erasers Price Quantity Price Quantity (Dollars per pen) (Number of pens) (Dollars per eraser) (Number of erasers) 2018 1 150 2 160 2019 2 135 4 230 2020 3 110 4 165 Use the information from the preceding table to fill in the following table. Year Nominal...
Suppose you have the following information: 2017 is the Base Year Nominal GDP in 2017 =...
Suppose you have the following information: 2017 is the Base Year Nominal GDP in 2017 = $17 Trillion Nominal GDP in 2018 = $18.5 Trillion The GDP Deflator in 2018 is 1.045 What is the 2018: a) nominal GDP growth rate; b) real GDP growth rate; and c) inflation rate?
1.         Growth rate of nominal GDP – Inflation rate   = a.         price level. b.         the growth...
1.         Growth rate of nominal GDP – Inflation rate   = a.         price level. b.         the growth rate of nominal GDP. c.         the growth rate of real GDP. d.         the growth rate of long-run trend GDP. e.         how much the economy contracts during a recession. 2.         The consumption category does not include purchases a.         of new cars made by consumers. b.         of entertainment services made by consumers. c.         of new clothing made by consumers. d.         of new houses made by consumers....
Your father’s annual nominal salary back in 2000 the base year, was USD 50,000 and in...
Your father’s annual nominal salary back in 2000 the base year, was USD 50,000 and in 2020, his nominal salary is USD 90,000. In 2020, the current cost of the basket of goods and services is USD 30,000, while in the base year, it was USD 25,000. a. Enter the value by which your father’s real wage changed from 2000 to 2020. b. Based on your answer in (a), has your father’s standard of living increased, decreased, or remain the...
If prices are inflexible, monetary policy: A. affects nominal income but not real income. B. affects...
If prices are inflexible, monetary policy: A. affects nominal income but not real income. B. affects both nominal and real income. C. does not affect real or nominal income. D. affects real income but not nominal income.
14.) If total spending rises from one year to the next, then A the economy must...
14.) If total spending rises from one year to the next, then A the economy must be producing a larger output of goods and services. B goods and services must be selling at higher prices. C either the economy must be producing a larger output of goods and services, or goods and services must be selling at higher prices, or both. D employment or productivity must be rising. 13.) The U.S. Air Force pays a Turkish citizen $30,000 to work...
Profit contribution equals total: Select one: a. revenue minus variable cost. b. revenue minus fixed cost....
Profit contribution equals total: Select one: a. revenue minus variable cost. b. revenue minus fixed cost. c. profit. d. revenue minus total cost. Slack variables: Select one: a. allow constraint equations to be expressed as inequalities. b. measure excess capacity. c. never equal zero. d. in some cases have negative values. The cost of capacity subject to constraints is: Select one: a. variable. b. sunk. c. semi-variable. d. nonzero. To determine the quantity to be produced by each production process...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT