The claim that increases in the growth rate of the money supply increase nominal interest rates but not real interest rates is known as the

Table 1Sample Population Person Status Allen Unpaid stay at home dad. Has not looked for a job in several years. Ben College president. Allison Part-time welder. Actively looking for full time work. Brittany Self-employed full-time wedding singer. Cathy Full-time physician’s assistant. Calvin Retired finance professor. Last applied for work 10 weeks ago. Diane Laid-off fork-lift operator expecting to be recalled. David Works for a bicycle store. Age 70. Evelyn Manager of health food store. Eli Museum guard. Was not at work last week due to illness. Flora Has never been employed. Looked for a job last week. Frank Fired from job as an investment banker. Last looked for work three weeks ago.

The steps involved in calculating the consumer price index and the inflation rate, in order, are as follows:

 If the price level last year was 180 and this year it is 176, then

In 2015 the Japanese adult non-institutionalized population was 110.7 million, the labor force was 66 million, and the number of people employed was 63.7 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about

Suppose there are constant returns to scale. Now suppose that over time a country doubles its workers, its natural resources, its physical capital, and its human capital, but its technology is unchanged. Which of the following would double?

The CPI is a measure of the overall cost of:

In which case would people desire to borrow the most?

Gramp’s Potato Chips produces 2560 bags of potato chips a day. Each employee at Gramp’s works 8 hours. If the company’s productivity is 20 bags per hour, how many people does Gramp’s employ?

Bonus Question 2: Suppose the cost of flying a 100-seat plane for an airline is $50,000 and there are 10 empty seats on a flight. The marginal cost of flying a passenger is: