An Associate Professor of Physics Gets a $200 a Month

question 161

Multiple Choice

An associate professor of physics gets a $200 a month raise.She figures that with her new monthly salary she can buy more goods and services than she could buy last year.

• A)Her real and nominal salary have risen.
• B)Her real and nominal salary have fallen.
• C)Her real salary has risen and her nominal salary has fallen.
• D)Her real salary has fallen and her nominal salary has risen.

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Definitions:

Plastic

A wide range of synthetic or semi-synthetic materials that are malleable and so can be molded into solid objects of diverse shapes.

Wood

A hard, fibrous material made of the stems and branches of trees or shrubs, often used for construction, furniture, and fuel.

Production Function

A mathematical relationship describing the maximum output possible from a given set of inputs in the production process.

Plastic

A synthetic material made from a wide range of organic polymers that can be molded into shape while soft, and then set into a rigid or slightly elastic form.