51._______ Which of the following is a truestatement about real and nominal GDP?
Table 6Year CPI (1982-1984 = 100) 2015 175 2016 180 52._______ Refer to Table 6. Suppose that the data in the table above reflect price levels in the economy. What is the inflation rate between 2015 and 2016?
Table 7Year Nominal Average Hourly Earnings 2014 $10 100 2015 10 105 2016 12 110 53._______ Refer to Table 7. Looking at the table above, real average hourly earnings in 2015 were CPI
54._______ If inflation increases unexpectedly, then a)lenders gain and borrowers gain. b)lenders receive a lower real interest rate than they expected. c)neither borrowers nor lenders lose. d)borrowers pay a higher real interest rate than they expected.
55._______ Which of the following is an example of human capital?