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Case-Based Critical Thinking Questions Case 10-1 James owns an auto parts store. He wants to insert a table into his inventory report to keep the product names, quantities, and prices of the parts organized. He asks his friend Leon for help. James is ready to type the information into his table. Leon tells him that in order to add text to a table, he should _____.
Real Wages
Wages adjusted for inflation, representing the purchasing power of wages in terms of goods and services, unlike nominal wages which are not adjusted for inflation.
Unemployment
The situation in which individuals who are capable of working and are actively seeking work but are unable to find a job.
Expected
Something considered likely or anticipated to happen or become a reality in the future.
Potential GDP
The highest level of real GDP that can be sustained over the long term without increasing inflation, assuming full employment of resources.
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