ECON 201 D Winter 2012
QUIZ #1 A
Indicate whether the statement is true or false.
1. For an economy as a whole, income must exceed expenditure.
2. Real GDP evaluates current production using prices that are fixed at past levels and t
Good side: Pickup in monthly payroll gains and notable decline in the unemployment rate
Bad: the better jobs numbers are out of sync with the overall pace of economic, the large
number of people has been unemployed for more than six months, which is costl
Practice Question#2 : Inflation
ECON 201 D_Winter 2012
1. When the consumer price index falls, the typical family has to spend fewer dollars to maintain the
same standard of living.
2. Economists use the term inflation to describe a si