The First Person to Discover and Develop FM Radio in the 1920s

question 60

True/False

The first person to discover and develop FM radio in the 1920s and the 1930s was David Sarnoff of RCA.

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Definitions:

Base-Year Prices

Prices from a specific base year that are used to calculate real values or quantities, allowing for the comparison of economic data over time by removing the effects of inflation.

Laspeyres Index

A price index calculated by taking the ratio of the total cost of purchasing a specified set of goods and services in a given period to the cost of purchasing the same set of goods and services during a base period, using base period quantities for weighting.

Nominal Income

The amount of money earned in current dollars, without adjustment for inflation or purchasing power.

Revealed Preference

An economic theory that determines preferences by observing consumer choices and behaviors rather than through direct inquiry.