In Order to Determine If the Quantity of Goods and Services

question 234

Multiple Choice

In order to determine if the quantity of goods and services that an hour's work can buy has increased or decreased between 2000 and 2010, one should compare the

• A) 2000 nominal wage with the 2010 nominal wage.
• B) 2000 real wage with the 2010 nominal wage.
• C) 2000 real wage with the 2010 real wage.
• D) 2000 nominal wage with the 2010 real wage.
• E) 2000 nominal wage with the 2010 nominal wage and the 2000 real wage with the 2010 real wage because both are important factors determining if workers can buy more or fewer goods with an hour's work.

---

Definitions:

Parol Evidence Rule

A principle in contract law that prevents the parties from presenting external evidence that contradicts or adds to the written terms of a contract.

Merger Clause

A contract provision stating that the written contract represents the complete and final agreement between the parties.

House

A building for human habitation, typically consisting of multiple rooms and facilities designed to support daily life activities.

Ambiguity

A lack of clarity or uncertainty in meaning or intention, often leading to confusion or misunderstanding.