Refer to Table 10-2. What is the approximate average annual growth rate of real GDP from 2015 to 2018?

Refer to Table 9-1. The labor force participation rate for this simple economy equals

The per-worker production function has a ________ slope, indicating that increases in capital per hour worked ________ real GDP.

Refer to Table 9-1. The labor force participation rate for this simple economy equals

Figure 9-1      Refer to Figure 9-1. Based on the graph of the labor market above, if a minimum wage of $5 per hour is imposed, which of the following will result?  

If the nominal interest rate is 6% and the inflation rate is 2%, then the real interest rate is

Imagine that you borrow $1,000 for one year and at the end of the year you repay the $1,000 plus $100 of interest. If the inflation rate was 7%, what was the real interest rate you paid?

Figure 11-4Refer to Figure 11-4. The movement from A to B to C illustrates

Figure 9-1      Refer to Figure 9-1. Based on the graph of the labor market above, if a minimum wage of $5 per hour is imposed, which of the following will result?  

Suppose your grandfather earned a salary of $12,000 in 1964. If the CPI is 31 in 1964 and 219 in 2018, then the value of your grandfather’s salary in 2018 dollars is approximately