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The following table gives average hourly nominal wages in nonagricultural industries and the price level in the United States from 1995 to 2002.
(a) In what year did the nominal wage rise the most?
(b) In what year did the real wage rise the most?
(c) Did you get the same years for both (c) and (b)? If you didn't, what accounts for the difference?
Imagine a simple economy with only two people, Leroy and Percy. If the Social Welfare Function is W = UL + UP, and the Utility Possibilities Frontier is UPF = UL + 2UP, what will be the societal optimum
What is its relationship to the international mobility of factors of production?
A firm is considering three mutually exclusive alternatives as part of a production improvement program. The alternatives are, Alternatives Cash flow A B C Installed cost $12,250 $14,000 $16,500 Uniform annual Benefit $ 2,750 $ 2,700 $ 2,950 Salva..
A well-known industrial firm has issued $1000 bonds that carry a 4% nominal annual interest, rate paid semiannually. The bonds mature 20 years from now, at which time the industrial firm will redeem them for $1000 plus the terminal semiannual inte..
Suppose that the government decreases spending by $100 billion.What happens to aggregate demand What is the likely effect onprices and output Where are the new equilibrium price level andGDP relative to the old levels
design specifications require that the diameter of an automotive axel measure 200 plusmn 18 mm. the milling process
If two people have cardinal utility functions, person1 is Utility = XY and person2 is Utility = (XY)^1/3 which bundle would they find to be best Bundle 1: Has an indifference curve of Y = 1/X
A purely competitive wheat farmer can sell any wheat he grows for $30 per bushel. His five acres of land show diminishing returns, because some are better of wheat, the second acre 900, the third 800, the fourth 700, the fifth 600
If the Central Bank (Reserve Bank ofAustralia) bought $100 million of government securities from private sector money markets, other things being equal, what would be the effect on the following?
a high-tech company in the us can have one of the popular items made offshore at half the price of making them in the
Demand for flower bouquets in a suburban town is described by: QD = 50 - 5 P + 2 Y, where Q is quantity, P is price per unit, and Y is an index of consumer income. Similarly, supply is described by QS = 10 P - 5.
Keynesian Economics: Suppose the following about the economy of the United States: Government spending = 660, planned investment (Ip) = 215, autonomous consumption is 200, net exports is 100 and taxes are 100. In addition, for each additional $1..
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