The classical dichotomy is the separation of real and nominal variables. The following questionstest your understanding of this distinction.Simone spends all of her money on comic books and beignets. In 2015, she earned $14.00 perhour, 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.n The price of a beignet is $2.00 in 2015.n Simone's wage is $14.00 per hour in 2015.n Simone's wage is 2 comic books per hour in 2015.Which of the following give the real value of a variable? Check all that apply.The price of a comic book is 3.5 beignets in 2015.n Simone's wage is 7 beignets per hour in 2015.n Simone's wage is $14.00 per hour in 2015.Suppose that the Fed sharply increases the money supply between 2015 and 2020. In 2020,Simone's wage has risen to $28.00 per hour. The price of a comic book is $14.00 and the price of abeignet is $4.00.In 2020, the relative price of a comic book isBetween 2015 and 2020, the nominal value of Simone's wagereal value of her wageand theMonetary neutrality is the proposition that a change in the money supplynominal variables andreal variables.

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The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Simone spends all of her money on comic books and beignets. In 2015, 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. n The price of a beignet is $2.00 in 2015. n Simone's wage is $14.00 per hour in 2015. n Simone's wage is 2 comic books per hour in 2015. Which of the following give the real value of a variable? Check all that apply. n The price of a comic book is 3.5 beignets in 2015. n Simone's wage is 7 beignets per hour in 2015. n Simone's wage is $14.00 per hour in 2015. Suppose that the Fed sharply increases the money supply between 2015 and 2020. In 2020, Simone'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 2020, the relative price of a comic book is Between 2015 and 2020, the nominal value of Simone's wage real value of her wage and the Monetary neutrality is the proposition that a change in the money supply nominal variables and real variables.

The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Simone spends all of her money on comic books and beignets. In 2015, 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. n The price of a beignet is $2.00 in 2015. n Simone's wage is $14.00 per hour in 2015. n Simone's wage is 2 comic books per hour in 2015. Which of the following give the real value of a variable? Check all that apply. n The price of a comic book is 3.5 beignets in 2015. n Simone's wage is 7 beignets per hour in 2015. n Simone's wage is $14.00 per hour in 2015. Suppose that the Fed sharply increases the money supply between 2015 and 2020. In 2020, Simone'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 2020, the relative price of a comic book is Between 2015 and 2020, the nominal value of Simone's wage real value of her wage and the Monetary neutrality is the proposition that a change in the money supply nominal variables and real variables.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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