If real GDP grows by 3% in 2014, 3.2% in 2015, and 2.5% in 2016, what is the average annual growth rate of real GDP?

The cost of risk is the amount by which expected wealth must increase to give the same ________ as a no-risk situation

A) marginal wealth B) marginal utility C) expected utility D) expected wealth

Based on our understanding of the wage setting equation, which of the following will not cause a reduction in the nominal wage?

A) an increase in unemployment B) a reduction in the expected price level C) a reduction in expected productivity D) all of the above E) none of the above