"Social Security should be privatized to get the government out of the retirement-financing business," is an example of a _____ statement about _____ policy."

Higher future living standards require

If both the lender and borrower agree on an 8 percent interest rate, both expect a 4 percent inflation rate, and inflation turns out to be 4 percent, then ______ by the inflation.

The consumer price index for Planet Econ consists of only two items: books and hamburgers. In 2018, the base year, the typical consumer purchased 10 books for $20 each and 200 hamburgers for $1 each. In 2020, the typical consumer purchased 12 books for $23 each and 300 hamburgers for $1.15 each. The consumer price index for 2020 on Planet Econ equals

In the market for labor, the price of labor is the

An example of a government policy to increase physical capital formation is

Suppose that the total production of an economy consists of 10 oranges and 5 candy bars, each orange sells for $0.20, and each candy bar sells for $1. What is the market value of production in this economy?

A college graduate in 1972 found a job paying €7,200. The CPI was 0.418 in 1972. A college graduate in 2000 found a job paying €28,000. The CPI was 1.68 in 2000. The 1972 graduate's job paid ____ in nominal terms and ______ in real terms than the 2000 graduate's job.

Mike and Tom debone chicken breasts for Ted's Chicken Co. Mike is new and can only debone 30 chicken breasts per hour, while Tom's experience allows him to debone 60 chicken breasts per hour. Both Mike and Tom work 40 hours per week. Their average hourly productivity as a team is ______ chicken breasts.

A labor contract provides for a first-year wage of $15 per hour, and specifies that the real wage will rise by 2 percent in the second year of the contract. The CPI is 1.00 in the first year and 1.09 in the second year. What dollar wage must be paid in the second year?