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Unformatted text preview: workplace. It also does not include tasks done within a household by the family living in the household. Chores would be included if a maid was hired, though. 8. b. and c. 9. c. 10. b. and d. 11. b. The only factor that changes in the two equations is the number of people employed. The number of people employed increases. 12. c. 13. b. and c. 14. d. Rewrite the equation as nominal = real +inflation. If nominal increased by 3% and inflation is positive, then real has to increase by less than 3%. 15. a., b. and d. Remember c. is a factor that causes the demand curve for a particular good to slope downward, not the aggregate demand curve. 16. e. 17. c. Macroeconomics Test 2 Review (Calhoun) – Fall 2010 2 18. b. Nominal = real + inflation 19. a. and c. 20. a. and d. If the dollar appreciates, then it will cost us less to buy Chinese goods. This will lead to an increase in imports to the U.S. from China. 21. d. 22. d. 23. e. 24. d....
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- Fall '10
- Inflation, Gdp, gross domestic product, GDP deflator