If the Nominal Value of a Benefit in 2011 Is

question 25

True/False

If the nominal value of a benefit in 2011 is $1,500, its real value in 2012, assuming a 3 percent inflation rate, is $1,545.

---

Definitions:

Main Memory

The principal storage in a computer in which data and programs are temporarily stored for quick access by the processor.

Secondary Storage

A non-volatile storage medium used for keeping data permanently, as opposed to the volatile primary storage or main memory.

Input Device

A hardware component used to enter data or instructions into a computer system.

Compiler

A software tool that translates code written in a high-level programming language into a lower-level language or machine code that can be executed by a computer.