Households and businesses must spend time and effort obtaining the information they need to distinguish between real and nominal values such as prices, wages, and interest rates.

Question

Quizplus · Accepted Answer

This statement is true, as households and businesses need to differentiate between real and nominal values in order to make informed decisions regarding their consumption, savings, and investment choices. This requires time and effort to obtain and analyze the relevant information.

Households and Businesses Must Spend Time and Effort Obtaining the Information