The classical dichotomy and the neutrality of money The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Dina spends all of her money on comic books and mandarins. In 2015, she earned $15.00 per hour, the price of a comic book was $5.00, and the price of a mandarin was $3.00. Which of the following give the nominal value of a variable?
a) The price of a comic book is $5.00 in 2015.
b) Dina's wage is 5 mandarins per hour in 2015.
c) Dina's wage is $15.00 per hour in 2015.
d) Suppose that the Fed sharply increases the money supply between 2015 and 2020. In 2020,
e) Dina's wage has risen to $30.00 per hour.
f) The price of a comic book is $10.00 and the price of a mandarin is $6.00.
g) In 2020, the relative price of a comic book is . Between 2015 and 2020, the nominal value of
h) Dina's wage , and the real value of her wage .
i) Monetary neutrality is the proposition that a change in the money supply nominal variables and real variables.
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Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

Big trail running company has started to produce running apparel in addition to the trail running shoes that they have manufactured for years. they feel that a departmental overhead rate would best reflect their overall manufacturing overhead usage. based on research the following information was gathered for the upcoming year: machining department finishing department estimated manufacturing overhead by department $ 600 comma 000 $ 400 comma 000 trail running shoes 440 comma 000 machine hours 11 comma 000 direct labor hours running apparel 60 comma 000 machine hours 39 comma 000 direct labor hours manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department. at the end of the year, the following information was gathered related to the production of the trail running shoes and running apparel: machining department finishing department trail running shoes 442 comma 000 hours 10 comma 500 hours running apparel 57 comma 000 hours 40 comma 000 hours how much manufacturing overhead will be allocated to the trail running shoes

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