According to the classical dichotomy, which of the following is affected by monetary factors?
a. nominal wages
b. the price level
c. nominal GDP
d. All of the above are correct.
d
Economics
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Which part of the world is often classified as the "Fourth World" and why?
What will be an ideal response?
Economics
Tracy won a $100 million jackpot. She can receive the jackpot as a $5 million payment each year for 20 years, or she can ask to receive the present value of all those payments all at once now. Assume an annual interest rate of 5 percent. If she decides to take the present value payment, about how much will she receive?
A. $52.1 million B. $62.3 million C. $71.4 million D. $78.6 million
Economics