Question : 101.ThepriceofaHondaAccord a.andthepriceofaHondaAccorddividedbythepriceofaHondaCivicarebothrealvariables. b.andthepriceofaHondaAccorddividedbythepriceofHondaCivicarebothnominalvariables. : 1262087
101.ThepriceofaHondaAccord a.andthepriceofaHondaAccorddividedbythepriceofaHondaCivicarebothrealvariables. b.andthepriceofaHondaAccorddividedbythepriceofHondaCivicarebothnominalvariables. c.isarealvariable,andthepriceofaHondaAccorddividedbyaHondaCivicisanominalvariable. d.isanominalvariableandthepriceofaHondaAccorddividedbythepriceofaHondaCivicisarealvariable. 102.Thepaymentsyoumakeonyourautomobileloanaregivenintermsofdollars.Aspricesriseyounoticeyougiveupfewergoodstomakeyourpayments. a.The dollaramount youpayis anominal value.Thenumberofgoodsyougiveupisarealvalue. b.Thedollaramountyoupayisarealvalue.The numberof goodsyougive upisa nominalvalue. c.Boththedollaramountyoupayandthegoodsyougiveuparenominalvalues. d.Boththedollaramountyoupayandthegoodsyougiveuparerealvalues. 103.Whenshoppingyounoticethatapairofjeanscosts$20andthatatee-shirtcosts$10.Youcomputethepriceofjeansrelativetotee-shirts. a.Thedollarpriceofjeansandtherelativepriceofjeansarebothnominalvariables. b.Thedollarpriceofjeansandtherelativepriceofjeansarebothrealvariables. c.Thedollarpriceofjeansisanominalvariable;therelativepriceofjeansisarealvariable. d.Thedollarpriceofjeansisarealvariable;therelativepriceofjeansisanominalvariable. 104.Anassociateprofessorofphysicsgetsa$200amonthraise.Shefiguresthatwithhernewmonthlysalaryshecanbuymoregoodsandservicesthanshecouldbuylastyear. a.Herrealandnominalsalaryhaverisen. b.Herrealandnominalsalaryhavefallen. c.Herrealsalaryhasrisenandhernominalsalaryhasfallen. d.Herrealsalaryhasfallenandhernominalsalaryhasrisen. 105.Anassistantmanageratarestaurantgetsa$100amonthraise.Hefiguresthatwithhisnewmonthlysalaryhecannotbuyasmanygoodsandservicesashecouldbuylastyear. a.Hisrealandnominalsalaryhaverisen. b.Hisrealandnominalsalaryhavefallen. c.Hisrealsalaryhasrisenandhisnominalsalaryhasfallen. d.Hisrealsalaryhasfallenandhisnominalsalaryhasrisen. 106.Yourbossgivesyouanincreaseinthenumberofdollarsyouearnperhour.Thisincreaseinpaymakes a.yournominalwageincrease.Ifyournominalwagerosebyagreaterpercentagethanthepricelevel,thenyourrealwagealsoincreased. b.yournominalwageincrease.Ifyournominalwagerosebyagreaterpercentagethanthepricelevel,thenyourrealwagedecreased. c.yourrealwageincrease.Ifyourrealwagerosebyagreaterpercentagethanthepricelevel,thenyournominalwagealsoincreased. d.yourrealwagedecrease.Ifyourrealwagerosebyagreaterpercentagethanthepricelevel,thenyournominalwagedecreased. 107.In1975tuitionatWattsomataUniversitywas$2,500andtheconsumerpriceindexwas80.In2011tuitionwas$12,000andthepriceindexwas320.Whichofthefollowingiscorrect? a.Nominalandrealtuitionwerebothhigherin1975. b.Nominalandrealtuitionwerebothhigherin2011. c.Nominal tuitionwashigherin1975,realtuitionwashigherin 2011. d.Nominal tuitionwashigherin2011,realtuitionwashigherin 1975. 108.Lastyear,Janespentallofherincometopurchase200unitsofcornat$5perunit.Thisyear,shespentallofherincometopurchase180unitsofcornat$6perunit. a.Jane’snominalincomeandrealincomedecreasedthisyear. b.Jane’snominalincomedecreasedthisyear,butherrealincomeincreased. c.Jane’snominalincomeandrealincomeincreasedthisyear. d.Jane’snominalincomeincreasedthisyear,butherrealincomedecreased. 109.Yournominalwageincreasesfrom$12perhourto$13perhour.Atthesametime,thepricelevelincreasesfrom140to147.Asaresult, a.Thenumberofdollarsyoureceiveincreasesandthepurchasingpowerofthedollarsyoureceiveincreases. b.Thenumberofdollarsyoureceiveincreasesandthepurchasingpowerofthedollarsyoureceivedecreases. c.Thenumberofdollarsyoureceivedecreasesandthepurchasingpowerofthedollarsyoureceiveincreases. d.Thenumberofdollarsyoureceivedecreasesandthepurchasingpowerofthedollarsyoureceivedecreases. 110.Lastyear,youearnedanominalwageof$10perhourandthepricelevelwas120.Thisyearyournominalwageis$11perhour,butyouareunabletopurchasethesameamountofgoodsaslastyear.Thepricelevelthisyearmustbe a.135 b.132 c.125 d.121