Which of the following give the nominal value of a variable? Check all that apply. Maria's wage is $18.00 per hour in 2014. The price of a beignet is 0.22 paperback novels in 2014. The price of a beignet is $2.00 in 2014. Which of the following give the real value of a variable? Check all that apply. Maria's wage is 9 beignets per hour in 2014. The price of a paperback novel is $9.00 in 2014. The price of a paperback novel is 4.5 beignets in 2014. Suppose that the Fed sharply increases the money supply between 2014 and 2019. In 2019, Maria's wage has risen to $36.00 per hour. The price of a paperback novel is $18.00 and the price of a beignet is $4.00. In 2019, the relative price of a paperback novel is Between 2014 and 2019, the nominal value of Maria's wage , and the real value of her wage Monetary neutrality is the proposition that a change in the money supply nominal variables and real variables.

Consider the following graph in which the real wage increases. Which effect is prevailing on leisure: income effect, or substitution effect? consumption leisure O Income effect Substitution Effect O Neither (they are offsetting each other) O Both

The Laspeyres index is the ratio of the price of goods at prices to the price of goods at prices. O today's; yesterday's; yesterday's; today's yesterday's; yesterday's; yesterday's; today's today's; today's; yesterday's; yesterday's O yesterday's; today's; yesterday's; yesterday's

QUESTION 6 Price of Beni's house increased from S100,000 to $200,000 in the last decade. Cost of living quadrupled (increased 4 times as much). What can you say about Beni's house? O The house is cheaper now, because if it had appreciated at the same rate as all other goods as services, it should have been 4 times more ($400,000) but it is $200,000 instead. Nominal price has inereased but also nominal prices of other goods have increased. So, the price costs the same. The house is more expensive now, comparing $200,000 to $100,000 We do not have enough information to compare prices across time.

Homework (Ch 11) Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student's annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2017, 2018, and 2019. The cost of each item in the basket and the total cost of the basket are shown for 2017. Perform these same calculations for 2018 and 2019, and enter the results in the following table. 2017 2018 2019 Price Cost Price Cost Price Cost Quantity in Basket (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Notebooks 10 2 20 1. Calculators 50 50 54 75 Large coffees 200 200 1 Energy drinks 100 200 4 Textbooks 10 100 1,000 120 150 Total cost 1,470 Price index 100 Suppose the base year for this price index is 2017. In the last row of the table, calculate and enter the value of the CSPI for the remaining years. Between 2017 and 2018, the CSPI increased by Between 2018 and 2019, the CSPI increased by 15…

In 2019 and in 2020, consumers in Dexter purchased only books and pens. The prices and quantities for 2019 and 2020 are listed in the table. The reference base period for Dexter's CPI is 2019, and 2019 is also the year of the Consumer Expenditure Survey. What is the inflation rate in 2020? The inflation rate in 2020 is OA. 148.1 B. 2.1 C. 80.0 D. 48.1 percent. C Item Books Pens 2019 2020 Price Quantity Price Quantity $6 4 $5 8 $5 6 $10 5

2 In The Hightower Lowdown (Voiume 12, Number 5, May 2010) you could read: 5 MILLION PEOPLE (about 10% of the workforce) are out of work • UNEMPLOYMENT IS HEAVILY SKEWED BY CLASS. Among the wealthiest 10% of American families (incomes above $150,000), only 3% are unemployed - a jobless rate that rises as you go down the income scale. Among the bottom 10%, more than 30% are out of work. [R178] What average unemployment rate for the middle 80% of families fits with the given values for the top and bottom 10% to work out to the overall (weighted) average unemployment rate of 10%?

What is the effect of the sources of bias on the CPI calculation?     A. Changes in relative prices lead consumers to change the items they buy, and the CPI reflects this substitution.   B. The new goods bias injects a downward bias into the CPI.   C. When faced with higher prices, people use discount stores more frequently and convenience stores less frequently, but the CPI doesn't include this outlet substitution.   D. When the quality of a good improves over time, the CPI doesn't include the portion of the price rise attributable to the higher quality in its calculation.

i need both answer  i will 10 upvotes

Calculate how these famous athletes from different time periods rank in salary by converting each to today's $ (our CPI in 2023 is 304). Year CPI income 1980 82.4 Sugar Ray Leonard $18,000,000 (boxing) 1931 15.2 2015 Athlete's nominal 237.0 Babe Ruth $80,000 (baseball) Lionel Messi $73,800,000 (beautiful game) Each athlete's real income (in 2023 $) Rank of earnings in today's $