The opportunity cost of holding money is the nominal interest rate

The federal funds rate is a:

A) short-term nominal interest rate. B) short-term real interest rate. C) long-term real interest rate. D) long-term nominal interest rate.

Peter Piper picks a peck of pickled peppers using 10 units of labor and two pepper-picking machines. The last worker hired picked 100 peppers, and the last machine added 1,000 peppers. If labor can be hired at $5 a pepper picker and machines cost $5,000 . what advice do you have for Peter Piper?