If a person gets a 3 percent raise in their nominal salary in a year in which consumer prices rise by an average of 5 percent, this person's real salary (or income) will fall by 2 percent in the Product Market.
Group of answer choices a. true b. false
Because there are only 24 hours in each day, everyone's time is scarce and must be rationed among alternative activities.
Group of answer choices
a.True
b.False