8. Human capital refers to people\'s knowledge gained primarily through experien
ID: 1224913 • Letter: 8
Question
8. Human capital refers to people's knowledge gained primarily through experience, education, and on-the-job training. True False 11. Inflation is a one-time rise in the general price level. True False 14. If the CPI in year 1 equals 100 and the CPI in year 2 equals 104, it can be concluded that: A. the rate of inflation from year 1 to year 2 is 4%. B. the rate of inflation from year 1 to year 2 is 104%. C. there was no inflation from year 1 to year 2. D. year 2 is the base year. 16. The target rate of unemployment is defined as the absolute lowest possible rate of unemployment that can be achieved in any economy. True False 23. Inflation redistributes income from the people who raise their prices or wages to people who cannot or do not raise their prices or wages. True False
Explanation / Answer
The rate of inflation from year 1 to year 2 is 4%. [Option A]
Explanation:- Inflation rate = 104 - 100 / 100
= 0.04 i.e., 4 %.
Question Answers 8) Human capital refers to people's knowledge gained primarily through experience, education, and on-the-job training. True. 11) Inflation is a one-time rise in the general price level. False (Inflation is not a one-time rise in the general price level. Inflation is actually the Continuous process. The trend of increasing / rising prices of the goods produced in the economy is measured on the continuous basis by way of Inflation.) 14) If the CPI in year 1 equals 100 and the CPI in year 2 equals 104, it can be concluded thatThe rate of inflation from year 1 to year 2 is 4%. [Option A]
Explanation:- Inflation rate = 104 - 100 / 100
= 0.04 i.e., 4 %.
16) The target rate of unemployment is defined as the absolute lowest possible rate of unemployment that can be achieved in any economy. TrueRelated Questions
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