Examlex
Read each statement below and then write "climate" or "weather" in the blank space.
________ The forecast tomorrow calls for rain.
________ The low temperature this morning was 2° F.
________ The record low temperature here is -16°F.
________ Severe thunderstorms are possible today.
________ Our average annual temperature is 68°F.
Marginal Resource Cost
The additional cost incurred by acquiring or using one more unit of a resource.
Price Level
The average of current prices across the entire spectrum of goods and services produced in the economy, reflecting a nation's cost of living.
Nominal Wages
The amount of money paid to employees not adjusted for inflation, reflecting the current dollar value of wages.
Real Wages
Pay from employment, recalibrated for price level changes to indicate the true value of work income.
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