Business, 10.03.2020 19:55 tiffg3140

The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction.

Rina spends all of her money on comic books and beignets. In 2011 she earned $14.00 per hour, the price of a comic book was $7.00, and the price of a beignet was $2.00.

Which of the following give the nominal value of a variable? Check all that apply.

Rina's wage is 2 comic books per hour in 2011.

The price of a beignet is $2.00 in 2011.

Rina's wage is $14.00 per hour in 2011.

Which of the following give the real value of a variable? Check all that apply.

Rina's wage is $14.00 per hour in 2011.

The price of a comic book is 3.5 beignets in 2011.

Rina's wage is 7 beignets per hour in 2011.

Suppose that the Fed sharply increases the money supply between 2011 and 2016. In 2016, Rina's wage has risen to $28.00 per hour. The price of a comic book is $14.00 and the price of a beignet is $4.00.

In 2016, the relative price of a comic book is ( 0.29 beignets, 3.5 beignets, $4.00, $14.00)

Between 2011 and 2016, the nominal value of Rina's wage (decreases, increases, remains the same) and the real value of her wage(decreases, increases, remains the same) .

Monetary neutrality is the proposition that a change in the money supply (does not affect, affect) nominal variables and ( does not affect, affect) real variables.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 18:00

Large public water and sewer companies often become monopolies because they benefit from although the company faces high start-up costs, the firm experiences average production costs as it expands and adds more customers. smaller competitors would experience average costs and would be less

Answers: 1

Answer

Business, 22.06.2019 20:30

What could cause a production possibilities curve to move down and to the left? a.) a nation loses land after being defeated in a war. b.) an increase in the use of computer technology speeds up production c.) a baby boom 20 years ago results in a large number of young adults in the population today. d.) thousands of investors from overseas invest money in a nations economy.

Answers: 1

Answer

Business, 22.06.2019 22:00

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60

Answers: 3

Answer

Business, 22.06.2019 23:40

Robert is a district manager who oversees several store managers in a national chain of restaurants. robert reports directly to the vice president of stores and marketing, a member of top management. robert is a middle manager.t/f

Answers: 2

Answer

You know the right answer?

The classical dichotomy is the separation of real and nominal variables. The following questions tes...

Questions