real variables is the last
part ***
Homework Answers
Nominal variables are those which are expressed in monetary terms while real variables are those which are expressed in physical quantities.
Q1.
Price of a beignet = $3.00 in 2013 --- is a monetary measure and hence is a nominal value of the variable.
Price of beignet is 0.33 paperback novels in 2013 --- is a measure expressed in real physical terms and hence is a real value of the variable
Juanita's wage is 3 paperback novels per hour in 2013 --- is a measure expressed in physical terms and hence is a real value of the variable
Ans: The price of a beignet is $3.00 in 2013
Q2.
The price of a paperback novel is 3 beignets in 2013 - expressed in physical terms and hence is a real value of the variable.
The price of a paperback novel is $9.00 in 2013 ---- expressed in monetary terms and hence is a nominal value of the variable
Juanita's wage is $27.00 per hour in 2013 --- expressed in monetary terms and hence is a nominal value of the variable
Ans: The price of a paperback novel is 3 beignets in 2013
Q3. Given,
In 2018 - Juanita's wage = $54.00
Price of a paperback novel = $18.00
Price of a beignet = $6.00
Price of a paperback/Price of a beignet = $18.00/$6.00 = 3
The relative price of a paperback novel is 3 beignets
Juanita's real wage in 2013 = 3 paperback novels
Juanita's real wage in 2018 = Wage rate/Price of paperback novel = $54.00/$18.00 = 3 paperback novels
Hence, the nominal value of Juanita's wage increased, and the real value of her wage remained constant
Monetary neutrality is the proposition that a change in money supply affects nominal variables and does not affect real variables
Add Answer to:
real variables is the last
part ***
3. The classical dichotomy and the neutrality of money...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal va...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Latasha spends all of her money on paperback novels and mandarins. In 2012, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a mandarin was $3.00. Which of the following give the nominal value of a variable? Check all that apply. Latasha's wage...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Megan spends all of her money on paperback novels and donuts. In 2014, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a donut was $3.00. Which of the following give the nominal value of a variable? Check all that apply. Megan's wage...
32. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of...
32. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Neha spends all of her money on paperback novels and donuts. In 2011, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a donut was $3.00 Which of the following give the nominal value of a variable? Check all that apply Neha's wage...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Eileen spends all of her money on comic books and beignets. In 2014, she earned $27.00 per hour, the price of a comic book was $9.00, and the price of a beignet was $3.00. Which of the following give the nominal value of a variable? Check all that apply. Eileen's wage...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Dina spends all of her money on comic books and beignets. In 2012, she earned $27.00 per hour, the price of a comic book was $9.00, and the price of a beignet was $3.00. Which of the following give the nominal value of a variable? Check all that apply. Dina's wage...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Ginny spends all of her money on magazines and beignets. In 2015, she earned $27.00 per hour, the price of a magazine was $9.00, and the price of a beignet was $3.00. Which of the following give the nominal value of a variable? Check all that apply. -Ginny's wage is 3...
FILL IN THE BLANK: In 2017, the relative price of a paperback novel is .29 beignets, 3.5 beignets, $4.00, or $14.00 . Be...
FILL IN THE BLANK:
In 2017, the relative price of a paperback novel is .29
beignets, 3.5 beignets, $4.00, or $14.00 .
Between 2012 and 2017, the nominal value of Megan's wage
decreases, increases, or remains the same , and
the real value of her wage decreases, increases, or remains
the same .
Monetary neutrality is the proposition that a change in the
money supply does not affect or affects nominal
variables and does not affect or affects real
variables....
The classical dichotomy and the neutrality of money: Mary spends all her money on paperback novels...
The classical dichotomy and the neutrality of money: Mary spends all her money on paperback novels and donuts. In 2014, she earned $14.00 per hour, the price of a paperback novel was $7.00, and the price of a donut was $1.00 Which of the following give the nominal value of a variable? Check all that apply. A. The price of a donut is $1.00 in 2014 B. The price of a donut is 0.14 paperback novels in 2014 C. Mary's...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Becky spends all of her money on magazines and donuts. In 2015, she earned $18.00 per hour, the price of a magazine was $9.00, and the price of a donut was $2.00. Which of the following give the nominal value of a variable? Check all that apply. Becky's wage is 2...
The classical dichotomy is the separation of real and nominal variables. The following questions test your...
The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Poornima spends all of her money on comic books and beignets. In 2012, she earned $16.00 per hour, the price of a comic book was $8.00, and the price of a beignet was $1.00. Which of the following give the nominal value of a variable? Check all that apply. O Poornima's wage is 2 comic books per hour in 2012....
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Latasha spends all of her money on paperback novels and mandarins. In 2012, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a mandarin was $3.00. Which of the following give the nominal value of a variable? Check all that apply. Latasha's wage...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Megan spends all of her money on paperback novels and donuts. In 2014, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a donut was $3.00. Which of the following give the nominal value of a variable? Check all that apply. Megan's wage...
32. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Neha spends all of her money on paperback novels and donuts. In 2011, she earned $27.00 per hour, the price of a paperback novel was $9.00, and the price of a donut was $3.00 Which of the following give the nominal value of a variable? Check all that apply Neha's wage...
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Eileen spends all of her money on comic books and beignets. In 2014, she earned $27.00 per hour, the price of a comic book was $9.00, and the price of a beignet was $3.00. Which of the following give the nominal value of a variable? Check all that apply. Eileen's wage...
FILL IN THE BLANK:
In 2017, the relative price of a paperback novel is .29
beignets, 3.5 beignets, $4.00, or $14.00 .
Between 2012 and 2017, the nominal value of Megan's wage
decreases, increases, or remains the same , and
the real value of her wage decreases, increases, or remains
the same .
Monetary neutrality is the proposition that a change in the
money supply does not affect or affects nominal
variables and does not affect or affects real
variables....
3. The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Becky spends all of her money on magazines and donuts. In 2015, she earned $18.00 per hour, the price of a magazine was $9.00, and the price of a donut was $2.00. Which of the following give the nominal value of a variable? Check all that apply. Becky's wage is 2...
The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Poornima spends all of her money on comic books and beignets. In 2012, she earned $16.00 per hour, the price of a comic book was $8.00, and the price of a beignet was $1.00. Which of the following give the nominal value of a variable? Check all that apply. O Poornima's wage is 2 comic books per hour in 2012....
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