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Question - A chef needs to prepare 40 3-oz. portions of cooked potato. This vegetable loses 25% of its weight when cooked. If raw potatoes costs $3.59 per lb.
a. What is the yield factor for potato?
b. How many pounds of raw potato must be purchased (to the nearest whole ounce)?
c. What is the EPC per cooked pound of potato?
d. What is the price factor for potato?
e. Describe the relationship between the price and yield factors that is seen in this problem.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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