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If the price of motel rooms increases by 10 percent while the prices of other goods and services increase by 5 percent on average, the relative price of motel rooms has
In Econland 500,000 of the 2 million people in the country are employed. Average labour productivity in Econland is €15,000 per worker. Real GDP per person in Econland totals:
If the total expenditures of a typical family equaled €40,000 per year in 2019 and the exact same basket of goods and services cost €45,000 in the year 2020, the family's cost of living:
Which of the following activities is most likely to be counted in GDP?
All of the following are nominal quantities except the
Macroeconomic policies are government policies designed to affect:
Because of diminishing returns to capital, there is a limit to the increases in average labor productivity that can be gained from additional or improved
The duration of an unemployment spell is a measure of the
A long-term mismatch between the skills of some workers and the jobs available is a principal cause of ______ unemployment.
If workers and employers agree to a three-year wage contract under the expectation of 5 percent inflation, and inflation turns out to be 3 percent, then
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