If inflation is 4 percent per year and you receive a 3 percent raise in income, then your: a. Real income rises, but nominal income falls. O b. Real income falls, but nominal income rises O C. Real and nominal incomes both fall O d. Real and nominal incomes both rise.

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Table 5-2 Price of Magazines Quantity of Magazines 180 200 200 $2.00 $2.50 $3.50 Year Price of Burgers Quantity of Burgers 2017 $4.00 100 2018 $5.00 120 2019 $6.00 150 Refer to Table 5-2. Using the GDP deflator to measure the average level of prices and using 2017 as the base year, what is the economy's inflation rate? O a. 20 percent for 2018 and 30 percent for 2019 O b. 44.7 percent for 2018 and 45.5 percent for 2019 O c.25 percent for 2018 and 28 percent for 2019 O d. 20 percent for 2018 and 12.5 percent for 2019 6489a31#

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Question Completion Status: QUESTION'S If the consumer price index was 110 in the base year and 121 in the following year, then the inflation rate was a. 10 percent. b. 1 percent. C. -9.09 percent. d. 110 percent. O a b. P. QUESTION 6 The USA imports milk. If its price increascs, it will shows up in the consumer price index and in the GDP deflator. a. in the consumer price index, but not in the GDP deflator. in the GDP deflator, but not in the consumer price index. b. C. d. in neither the consumer price index nor in the GDP deflator. O a O b O d Od QUESTION 21 Labor Data for Uruguay Year Chee 2017 2018 2019 Adult 6,000 9,000 population Number of employed Number of unemployed 9,600 4,200 3,900 4,800 600 1,800 600 The labor force participation rate of Uruguay a. increased both from 2017 to 2018 and from 2018 to 2019. ame b. increased from 2017 to 2018 but decreased from 2018 to 2019. C. decreased from 2017 to 2018 but increased from 2018 to 2019. d. decreased both from 2017 to 2018 and…

Economists find in a business cycle, a peak represents the end of, and a trough represents the end of Select one: a. an expansion; a recession O b. a depression; an expansion O c. a recession; an expansion O d. a trough; a peak

Variations of actual real GDP around potential real GDP are called economic fluctuations. What is another name for these fluctuations? Select one: O a. Economic growth O b. Trade surpluses O c. Income variations O d. Business cycles Check

Suppose that, as a result of an increase in the price of wheat, several large U.S. grocery chains, such as Harris Teeter and Food Lion, increase the prices of all of their bread products. It follows that, ceteris paribus, the increase in the price will increase: O a. both the CPI and the GDP deflator. O b. neither the CPI nor the GDP deflator. O c. the GDP deflator but not the CPI. O d. the CPI but not the GDP deflator. Next page

Suppose Jack has $400 in nominal income. The price per unit of DVDs is $20. Accordingly, what is Jack's real income in terms of DVDs? O a. O b. O c. Od. between 0 and 15 between 15 and 30 between 30 and 45 between 45 and 60 e. greater than 60